Is Palo Alto Networks Inc [PANW] a good investment? Don’t be fooled by its recent momentum

The price of Palo Alto Networks Inc (NASDAQ:PANW) shares last traded on Wall Street rose 1.43% to $316.78.

PANW stock price is now 10.79% away from the 50-day moving average and 14.08% away from the 200-day moving average. The market capitalization of the company currently stands at $102.35B.

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With the price target reduced from $290 to $265, Rosenblatt Downgraded its rating from Buy to Neutral for Palo Alto Networks Inc (NASDAQ: PANW). On February 21, 2024, Piper Sandler Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $350 to quote $300, while ‘Northland Capital’ rates the stock as ‘Market Perform’

In other news, Klarich Lee, EVP, Chief Product Officer sold 5,391 shares of the company’s stock on May 07 ’24. The stock was sold for $1,642,647 at an average price of $304.70. Upon completion of the transaction, the EVP, Chief Product Officer now directly owns 166,542 shares in the company, valued at $52.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 06 ’24, EVP, Chief Product Officer Klarich Lee sold 121,276 shares of the business’s stock. A total of $36,334,450 was realized by selling the stock at an average price of $299.60. This leaves the insider owning 166,542 shares of the company worth $52.76 million. A total of 1.25% of the company’s stock is owned by insiders.

During the past 12 months, Palo Alto Networks Inc has had a low of $186.75 and a high of $380.84. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 0.79, and a quick ratio of 0.79.

The net profit margin was 30.24% and return on equity was 89.52% for PANW. The company reported revenue of $1.98 billion for the quarter, compared to $1.66 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.33 percent.

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