Fintel reports that on November 21, 2024, Rosenblatt upgraded their outlook for Palo Alto Networks (NasdaqGS:PANW) from Neutral to Buy.
Analyst Price Forecast Suggests 2.58% Upside
As of November 20, 2024, the average one-year price target for Palo Alto Networks is $403.01/share. The forecasts range from a low of $278.76 to a high of $472.50. The average price target represents an increase of 2.58% from its latest reported closing price of $392.89 / share.
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The projected annual revenue for Palo Alto Networks is 10,155MM, an increase of 22.52%. The projected annual non-GAAP EPS is 4.71.
What is the Fund Sentiment?
There are 3,047 funds or institutions reporting positions in Palo Alto Networks. This is an decrease of 1 owner(s) or 0.03% in the last quarter. Average portfolio weight of all funds dedicated to PANW is 0.46%, an increase of 3.79%. Total shares owned by institutions increased in the last three months by 2.34% to 285,967K shares. 
The put/call ratio of PANW is 1.54, indicating a bearish outlook.
What are Other Shareholders Doing?
BlackRock holds 25,086K shares representing 7.67% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,228K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 10,156K shares , representing an increase of 0.70%. The firm increased its portfolio allocation in PANW by 16.85% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 8,293K shares representing 2.53% ownership of the company. In its prior filing, the firm reported owning 7,946K shares , representing an increase of 4.19%. The firm increased its portfolio allocation in PANW by 17.88% over the last quarter.
Bank Of America holds 8,150K shares representing 2.49% ownership of the company. In its prior filing, the firm reported owning 8,313K shares , representing a decrease of 2.00%. The firm decreased its portfolio allocation in PANW by 76.67% over the last quarter.
Geode Capital Management holds 7,657K shares representing 2.34% ownership of the company. In its prior filing, the firm reported owning 7,436K shares , representing an increase of 2.88%. The firm decreased its portfolio allocation in PANW by 49.86% over the last quarter.
Palo Alto Networks Background Information
(This description is provided by the company.)
Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Its mission is to be the cybersecurity partner of choice, protecting the digital way of life. The Company helps address the world's greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, the Company is at the forefront of protecting tens of thousands of organizations across clouds, networks, and mobile devices. The vision of the Company is a world where each day is safer and more secure than the one before.
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This story originally appeared on Fintel.
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