Tomorrow Is Not Likely To Be Same For Palo Alto Networks Inc (PANW)

Palo Alto Networks Inc (PANW) concluded trading on Wednesday at a closing price of $269.54, with 4.02 million shares of worth about $1.08 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 13.84% during that period and on April 3, 2024 the price saw a loss of about -1.41%. Currently the company’s common shares owned by public are about 323.10M shares, out of which, 318.91M shares are available for trading.

However, the stock later moved at a day high price of 287.43, or with a loss of -1.41%. Stock saw a price change of -5.98% in past 5 days and over the past one month there was a price change of -9.99%. Year-to-date (YTD), PANW shares are showing a performance of -8.59% which increased to 34.95% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $176.30 but also hit the highest price of $380.84 during that period. The average intraday trading volume for Palo Alto Networks Inc shares is 5.99 million. The stock is currently trading -5.06% below its 20-day simple moving average (SMA20), while that difference is down -14.52% for SMA50 and it goes to -0.68% lower than SMA200.

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Palo Alto Networks Inc (NASDAQ: PANW) currently have 323.10M outstanding shares and institutions hold larger chunk of about 82.94% of that.

The stock has a current market capitalization of $87.09B and its 3Y-monthly beta is at 1.21. PE ratio of stock for trailing 12 months is 42.14, while it has posted earnings per share of $6.40 in the same period. Its PEG reads 2.36 and has Quick Ratio of 0.79 while making debt-to-equity ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PANW, volatility over the week remained 2.19% while standing at 2.89% over the month.

Stock’s fiscal year EPS is expected to rise by 24.20% while it is estimated to increase by 10.85% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Rosenblatt on February 21, 2024 offering a Neutral rating for the stock and assigned a target price range of between $290 and $265 to it. Coverage by Piper Sandler stated Palo Alto Networks Inc (PANW) stock as a Neutral in their note to investors on February 21, 2024, suggesting a price target of $300 for the stock. On February 21, 2024, Northland Capital Downgrade their recommendations, while on February 21, 2024, Loop Capital Downgrade their ratings for the stock with a price target of $300. Stock get an Equal weight rating from CapitalOne on February 21, 2024.

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