PANW Palo Alto Networks Inc

MIXED Impact: 3/10 ANALYST-UPGRADE
Processed 1mo ago SEC analyst-PANW-guggenhe-20260105
22 firms acted on PANW: Wells Fargo, Guggenheim, HSBC, BTIG, Tigress Financial, B of A Securities, Deutsche Bank, Piper Sandler, Keybanc, Roth Capital, HSBC, Stephens & Co., BTIG, Deutsche Bank, Guggenheim, Guggenheim, HSBC, Rosenblatt, OTR Global, Exane BNP Paribas, Redburn Atlantic, DA Davidson
Final — all horizons settled through T+60d
PANW ▼ -11.75% at T+60d
NEUTRAL call ✗ call lost -11.75% · α vs SPY -7.02% · entry $181.98 → $160.60
Last close $266.33 (close Jun 8) · +46.35% from $181.98 entry
Entry anchored
Jan 2, 04:27 PM ET
via Databento tick
T+1d
+2.08%
call +2.08% · α +1.47%
$185.76
settled 5mo ago
T+5d
+3.69%
call +3.69% · α +2.61%
$188.70
settled 5mo ago
T+20d
-8.72%
call -8.72% · α -8.96%
$166.12
settled 4mo ago
T+60d
-11.75%
call -11.75% · α -7.02%
$160.60
settled 2mo ago

Price Chart

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Executive Summary

Guggenheim upgraded PANW to Neutral from Sell on Jan 5 as part of a 22-firm analyst cluster. The consensus remains overwhelmingly bullish: 79% of analysts rate it a Buy (50 out of 63), with a mean price target of $206.14 (+15% from $179.32). Guggenheim's accuracy on 1,149 calls is 52% with an average return of 5.1% — below top-tier firms like JP Morgan (100% on 5 calls). The next earnings report on May 18 is within 30 days, and EPS revisions are sharply lower: 40 cuts in the current quarter vs. 1 upgrade. Insider trades are mixed, but CEO Nikesh Arora bought $10M of stock in March, while short interest is elevated at 55.8% of off-exchange volume. Institutional flows are split: Norges Bank started a $1.4B position, Renaissance doubled, but FMR trimmed 26.7%. The upgrade from Sell is a modest positive, but the cautious Neutral stance contrasts with the bullish consensus, and the deteriorating earnings picture warrants caution.

Impact Score

Base Score
2/7
LLM Adjustment
+1
Final Score
3/10

Consensus & Targets

Buy / Strong Buy
50 (79%)
Hold
12
Sell / Strong Sell
1
Total Analysts
50
Mean PT
$206.14
Median PT
$203.00
High PT
$265.00
Low PT
$114.00
Current Price
$179.32
Implied Upside
+15%

Consensus across 63 analysts: 16 Strong Buy, 34 Buy, 12 Hold, 1 Sell, 0 Strong Sell. That's 79% Buy-rated, 19% Hold, 2% Sell — overwhelmingly bullish relative to the S&P 500 average. Guggenheim's Neutral is more cautious than the prevailing view.

Mean price target $206.14, median $203, high $265 (from Baird), low $114. Current price $179.32 implies 15.0% upside to the mean. Guggenheim did not set a PT, but a Neutral rating typically implies the stock is fairly valued near current levels — well below the consensus mean.

Recent Analyst Activity

DateFirmActionRatingPrice Target
2026-03-11 Freedom Broker maintain Buy $210.00
2026-03-03 Wells Fargo initiate Overweight $200.00
2026-02-19 Citigroup maintain Buy $210.00
2026-02-19 JP Morgan maintain Overweight $200.00
2026-02-18 Bernstein maintain Outperform $209.00
2026-02-18 DA Davidson maintain Buy $190.00
2026-02-18 BMO Capital maintain Outperform $200.00
2026-02-18 Baird maintain Outperform $220.00
2026-02-18 RBC Capital reiterate Outperform $220.00
2026-02-18 Guggenheim reiterate Neutral

No upgrades or downgrades on PANW in the last 30 days. However, EPS revisions for the current quarter show 1 upward revision vs. 40 downward revisions over the past 30 days. For next quarter, 5 up vs. 9 down. Estimates are clearly trending lower, which is a bearish signal.

Firm Track Record — Guggenheim

Guggenheim accuracy: 52% on 1149 calls | avg return: 5.1%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.

FirmAccuracyCallsAvg Returnvs Average
HSBC 100% 3/3 -1.6% top tier
Stifel 100% 3/3 9.5% top tier
Stephens & Co. 100% 2/2 12.7% top tier
JP Morgan 100% 5/5 6.8% top tier
Truist Securities 80% 4/5 7.3% top tier
DA Davidson 80% 4/5 6.1% top tier
Baird 75% 3/4 6.1% top tier
Bernstein 71% 5/7 5% top tier
Wedbush 71% 5/7 3.1% top tier
RBC Capital 71% 5/7 4.8% top tier

Guggenheim has 52% accuracy on 1,149 analyst calls, with an average return of 5.1%. This is below the peer group average. Top-performing firms on PANW include JP Morgan (100% on 5 calls, +6.8% avg return), Stifel (100% on 3, +9.5%), and Stephens & Co. (100% on 2, +12.7%). Guggenheim is not a high-conviction firm on this name.

Earnings Estimates

Next earnings: May 18, 2026

PeriodEPS Est.EPS RangeRevenueRevisions (7d)
0y $3.69 $3.65 — $3.97 $11.3B ↑1 ↓0
+1y $2.30 $1.69 — $3.19 $13.6B ↑0 ↓0
+1q $0.52 $0.33 — $0.65 $3.3B ↑5 ↓0
0q $0.80 $0.78 — $0.95 $2.9B ↑0 ↓0

Cross-Platform Signals

Insider Trades (90d)
1 buys / 4 sells
Congressional
Jared Moskowitz (democrat) — buy $1,001 - $15,000
Congressional
Jared Moskowitz (democrat) — buy $1,001 - $15,000
Congressional
Jared Moskowitz (democrat) — buy $1,001 - $15,000
Institutional
NORGES BANK — new
Institutional
RENAISSANCE TECHNOLOGIES LLC — doubled (1226.3%)
Institutional
TWO SIGMA INVESTMENTS, LP — near_exit (-88.7%)
Short Interest
Short: 1,399,261 | Exempt: 1,188 | TRF Vol: 2,508,710 | Short Ratio: 55.8% | Off-exchange volume (dark pool + OTC)

Insider activity is mixed: CEO Nikesh Arora bought $10M on Mar 27, but other executives sold ~$2.1M in April. Congressional trades show 3 buys (Rep. Moskowitz, $1k-$15k each) and 2 sells (Reps. Gottheimer and Jackson). Institutional flows: Norges Bank new $1.4B position and Renaissance Technologies doubled (+1,226%), but FMR trimmed 26.7% and Two Sigma nearly exited. Short interest is high at 55.8% of off-exchange volume, suggesting significant bearish bets. The analyst upgrade is divergent from the downward EPS revisions and high short interest.

Actionable Insight

The upgrade from Sell to Neutral is a modest positive, but earnings revisions are collapsing and short interest is elevated. Traders should wait for the May 18 earnings report before taking a directional bet, as the stock could gap either way.

Documents Analyzed

Report based on filing metadata.

8 reports for PANW
Performance horizon
67% Hit rate 2 of 3 directional calls best @ T+60▲ +71.07%Feb 28, 2026
Filters
Rows
Reports for PANW — sortable, filterable
Type Now
Jun 2, 2026
7d ago
8-K
BULLISH ★ 7/10
$278.99 awaiting T+5awaiting T+5$266.33 (−4.54%)
May 31, 2026
9d ago
ANALYST-UPGRADE
MIXED ★ 2/10
$181.98 $188.70▲ +3.69%▲ +2.61%$266.33 (+46.35%)
May 27, 2026
13d ago
Insider Cluster
NEUTRAL ★ 2/10
$257.11 $278.71▲ +8.40%▲ +8.08%$266.33 (+3.58%)
May 1, 2026
5w ago
ANALYST-UPGRADE
MIXED ★ 3/10
$181.98 $188.70▲ +3.69%▲ +2.61%$266.33 (+46.35%)
Apr 11, 2026
8w ago
8-K
NEUTRAL ★ 4/10
$162.44 $169.49▲ +4.34%▲ +1.04%$266.33 (+63.95%)
Apr 1, 2026
10w ago
Insider Cluster
BEARISH ★ 5/10
$160.60 $166.87▼ −3.90%▼ −0.14%$266.33 (−65.83%)
Mar 27, 2026
10w ago
Insider Cluster
BULLISH ★ 7/10
$146.69 $161.81▲ +10.31%▲ +6.45%$266.33 (+81.55%)
Feb 28, 2026
14w ago
Institutional Cluster
BULLISH ★ 7/10
$150.08 $164.64▲ +9.70%▲ +10.91%$266.33 (+77.45%)
Showing 8 of 8

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