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”.
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.
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.
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.