Palo Alto Networks Inc. [PANW] Stock Gets Reiterated At BTIG. It’s Still a Buy

BTIG maintained its Palo Alto Networks Inc. [NYSE:PANW]‎ rating to the equivalent of Buy but changed ‎the price target ‎to $419 ‎from $370, in a research note dated December 31, 2020. That figure represents ‎around a 17.76% ‎premium ‎from where the company’s shares closed on Wednesday.‎ Other analysts ‎also revised their coverage, with RBC Capital Mkts’s analysts upgrading the ‎shares from “a Sector ‎perform” rating to “an Outperform” rating in a research note to investors issued ‎in mid December. ‎Meanwhile, JP Morgan had lowered its rating on PANW to “an Underweight” from ‎the earlier ‎‎”Neutral”, in a research note produced for clients December 09, 2020. In addition, there was ‎a new ‎coverage from KeyBanc Capital Markets on November 24, 2020. The research firm rated PANW ‎‎”an ‎Overweight”.

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Is Palo Alto Networks Inc. ‎‎[NYSE:PANW] a Good Buy Right Now?

It should be noted that ‎PANW technical indicators for ‎short, intermediate as well as long term progress have placed an overall ‎average of 100% as Buy. The ‎average signal changed from 100% Buy in the last week and compares ‎with 100% Buy in the past ‎month. Data from Palo Alto Networks Inc.’s Trend Spotter indicated that the ‎signals were Weakest. ‎The stock current average is 1.3 million shares in the past 20 days and the short ‎term average signal ‎indicates a 100% Buy. In the last 50 days, the average trading volume was 1.18 ‎million shares while the ‎medium term average advocated for 100% Buy. The average long-term signal ‎stands at 100% Buy and ‎the 100-day average volume stands at 1.19 million shares.‎‎

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PANW Price Performance

On Wall ‎Street, Palo Alto Networks Inc. [NYSE:PANW] finished ‎Wednesday’s session down -0.12% at $355.79. ‎The stock went up to $360.76 at the same session while ‎its lowest single day price was $355.69. In the ‎last five days, it saw a fall of about -4.37%, Palo Alto ‎Networks Inc. shares gained by almost 53.86% ‎since the beginning of the year. However, the share ‎price has dropped to as low as -5.12% below its ‎one year high. On 12/23/20, the company shares ‎recorded $375.00, the highest single-day price it has ‎got to in the last 52-weeks and a 52-week low was ‎seen on 03/18/20, the same year at $125.47. The ‎company’s shares have inclined by 53.86% in the past ‎year. The 50-day SMA achieved is $286.72 while ‎the 200-day SMA is $242.13. Volume dropped to 0.61 ‎million from 1.13 million in the previous session.‎‎‎

PANW Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing ‎is ‎perceived around 354.07 level, and in case of violation of this particular level, it will cause more drop ‎to ‎‎352.34 level. On the upper level, 362.48 is still the key resistance. The stock may increase to ‎the ‎subsequent resistance at 359.14. The Relative Strength Index (RSI) pinned on the 14-day chart is ‎‎70.64, ‎implying a overbought technical stance while the MACD stands at 15.44, meaning price will ‎increase in ‎the next trading period. Percent R indicator moved to 25.61%, implying bullish price ‎movement. ‎Stochastic %K at 77.37% suggest selling the stock.‎‎

What is the short interest in Palo ‎Alto Networks Inc.?

Short interest in the Palo Alto ‎Networks Inc. stock has plunged, decreasing ‎by -0.54 million shares to total 4.26 million shares on Dec ‎‎14, 2020. The interest had seen shares on Nov ‎‎12, 2020 stand at 3.72 million, data from Yahoo Finance ‎shows. The increase of 12.68% suggests the ‎stock saw some increased bearish sentiment. The stock’s ‎days to cover (short ratio) moved to while ‎the shorted shares account for just 4.50% of the overall ‎float for the stock.‎‎

Palo Alto Networks ‎Inc.’s Biggest Shareholders: Who Owns Palo Alto Networks Inc. ‎‎[PANW]?

Filings by The Vanguard ‎Group, Inc. showed that the firm now holds a total of 8,226,983 ‎shares or roughly 8.64% of the ‎outstanding PANW shares. This means their shares have reduced by -‎‎323,135 from the 8,226,983 the ‎investor reportedly held in its prior 13-F filing. With the conclusion of ‎the sale, BlackRock Fund Advisors ‎updated stake is worth $1,321,453,445. Details in the latest 13F filings ‎reveal that Renaissance ‎Technologies LLC disposed off their -21.27% stake valued at $1,154,695,288 ‎while Generation ‎Investment Management cut theirs at $924,946,253. During the last quarter, ‎Renaissance Technologies ‎LLC liquidated -1,061,648 of its shares in Palo Alto Networks Inc. while ‎Generation Investment ‎Management sold -192,817 shares. The ClearBridge Investments LLC’s holdings ‎currently number ‎‎2,575,948 shares at $916496538.92. According to the firm’s last 13F report, Morgan ‎Stanley Smith ‎Barney LLC shares in the company at filing stood at 2,336,819 shares, roughly ‎‎$686,837,840.‎‎

PANW ‎Earnings Forecast For The Current Quarter

Palo Alto Networks Inc. [PANW] is ‎expected to report ‎strong earnings results for the quarter ending on Jan 2021. Consensus estimates ‎give the company ‎expected revenues of $984.78M and an earnings per share of $1.43 for Jan 2021. ‎Looking further ‎ahead, the company is expected to report revenue of $1.04B at an EPS of $1.28 for Apr ‎‎2021. ‎

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PANW Earnings Estimates For The ‎Current ‎Year

For the financial year, Palo Alto Networks Inc. [NYSE:PANW] is expected to bring in ‎revenue ‎of $4.12B. The returns are nearly $710.0 million higher than the company’s actual revenue ‎recorded in ‎the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 5.78, higher than that of ‎FY20 by ‎‎$0.9. Estimates put this year’s earnings growth at 18.40%, 19.60% for the next, and at an annual ‎‎20.86% ‎over the next 5-year period. As for sales, forecasts are for an increase of 20.80% in the current ‎fiscal ‎year and a further 17.70% over the following year.‎

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