$1.66 Earnings Per Share Expected for Palo Alto Networks, Inc. (NASDAQ:PANW) This Quarter

Brokerages predict that Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) will post earnings of $1.66 per share for the current fiscal quarter, Zacks Investment Research reports. Fifteen analysts have made estimates for Palo Alto Networks’ earnings, with the highest EPS estimate coming in at $1.68 and the lowest estimate coming in at $1.65. Palo Alto Networks posted earnings per share of $1.38 during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.3%. The business is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Palo Alto Networks will report full-year earnings of $7.27 per share for the current year, with EPS estimates ranging from $7.24 to $7.30. For the next fiscal year, analysts anticipate that the firm will post earnings of $8.99 per share, with EPS estimates ranging from $8.65 to $9.44. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Palo Alto Networks.

Palo Alto Networks (NASDAQ:PANWGet Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The network technology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.22). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Palo Alto Networks had a negative net margin of 9.50% and a negative return on equity of 42.84%. The company’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.42) EPS.

Several equities research analysts have recently weighed in on the company. Wedbush increased their price target on Palo Alto Networks from $630.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday. Northland Securities upped their target price on Palo Alto Networks from $585.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 23rd. KeyCorp upped their target price on Palo Alto Networks from $615.00 to $643.00 and gave the company an “overweight” rating in a research report on Wednesday, February 23rd. BTIG Research upped their target price on Palo Alto Networks from $610.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, April 8th. Finally, JPMorgan Chase & Co. upgraded Palo Alto Networks from an “underweight” rating to a “neutral” rating and upped their target price for the company from $600.00 to $620.00 in a research report on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $624.47.

In related news, Director Mark D. Mclaughlin sold 9,500 shares of the stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $598.00, for a total transaction of $5,681,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 4,781 shares of the stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $602.42, for a total transaction of $2,880,170.02. Following the transaction, the executive vice president now owns 266,974 shares of the company’s stock, valued at approximately $160,830,477.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,657 shares of company stock valued at $39,871,738. Company insiders own 2.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC lifted its holdings in Palo Alto Networks by 108.7% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 48 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 25 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in Palo Alto Networks during the fourth quarter valued at about $28,000. Tyler Stone Wealth Management purchased a new stake in Palo Alto Networks during the fourth quarter valued at about $33,000. Catalyst Capital Advisors LLC lifted its holdings in Palo Alto Networks by 113.8% during the fourth quarter. Catalyst Capital Advisors LLC now owns 62 shares of the network technology company’s stock valued at $35,000 after purchasing an additional 33 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Palo Alto Networks by 85.7% during the fourth quarter. Lindbrook Capital LLC now owns 65 shares of the network technology company’s stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of PANW stock traded down $2.23 on Friday, hitting $626.78. The company had a trading volume of 955,827 shares, compared to its average volume of 1,531,267. The firm has a market cap of $61.73 billion, a P/E ratio of -132.23 and a beta of 1.28. The stock’s 50-day moving average is $568.38 and its two-hundred day moving average is $534.23. Palo Alto Networks has a twelve month low of $322.23 and a twelve month high of $635.89.

About Palo Alto Networks (Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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