During the last session, Palo Alto Networks Inc (NASDAQ:PANW)’s traded shares were 3.68 million, with the beta value of the company hitting 1.21. At the end of the trading day, the stock’s price was $269.01, reflecting an intraday gain of 1.44% or $3.81. The 52-week high for the PANW share is $380.84, that puts it down -41.57 from that peak though still a striking 34.46% gain since the share price plummeted to a 52-week low of $176.30. The company’s market capitalization is $86.92B, and the average intraday trading volume over the past 10 days was 3.57 million shares, and the average trade volume was 6.05 million shares over the past three months.
Palo Alto Networks Inc (NASDAQ:PANW) trade information
Palo Alto Networks Inc (PANW) registered a 1.44% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.44% in intraday trading to $269.01, hitting a weekly high. The stock’s 5-day price performance is -5.32%, and it has moved by -3.53% in 30 days. Based on these gigs, the overall price performance for the year is 36.86%. The short interest in Palo Alto Networks Inc (NASDAQ:PANW) is 13.43 million shares and it means that shorts have 1.22 day(s) to cover.
Palo Alto Networks Inc (PANW) estimates and forecasts
Statistics show that Palo Alto Networks Inc has outperformed its competitors in share price, compared to the industry in which it operates. Palo Alto Networks Inc (PANW) shares have gone up 13.78% during the last six months, with a year-to-date growth rate more than the industry average at 23.65% against 20.00. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 13.60% this quarter and then drop -2.80% in the quarter after that. In the rating firms’ projections, revenue will increase 15.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.97 billion as predicted by 37 analyst(s). Meanwhile, a consensus of 37 analyst(s) estimates revenue growth to $2.16 billion by the end of Jul 2024.
While earnings are projected to return 24.20% in 2024, the next five years will return 17.83% per annum.
PANW Dividends
Palo Alto Networks Inc is due to release its next quarterly earnings between May 21 and May 27. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Palo Alto Networks Inc (NASDAQ:PANW)’s Major holders
Palo Alto Networks Inc insiders own 1.13% of total outstanding shares while institutional holders control 84.76%, with the float percentage being 85.72%. Vanguard Group Inc is the largest shareholder of the company, while 2,470 institutions own stock in it. As of Jun 29, 2023, the company held over 26.21 million shares (or 26.91% of all shares), a total value of $6.7 billion in shares.
The next largest institutional holding, with 22.32 million shares, is of Blackrock Inc.’s that is approximately 22.91% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $5.7 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Palo Alto Networks Inc (PANW) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 9.54 million shares. This amounts to just over 9.79 percent of the company’s overall shares, with a $2.44 billion market value. The same data shows that the other fund manager holds slightly less at 7.2 million, or about 7.39% of the stock, which is worth about $1.84 billion.
