Zacks: Brokerages Anticipate Palo Alto Networks, Inc. (NASDAQ:PANW) Will Announce Quarterly Sales of $1.36 Billion

Equities analysts predict that Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) will post sales of $1.36 billion for the current quarter, according to Zacks. Fifteen analysts have made estimates for Palo Alto Networks’ earnings. The lowest sales estimate is $1.35 billion and the highest is $1.38 billion. Palo Alto Networks reported sales of $1.07 billion in the same quarter last year, which indicates a positive year over year growth rate of 27.1%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Palo Alto Networks will report full year sales of $5.46 billion for the current year, with estimates ranging from $5.43 billion to $5.49 billion. For the next financial year, analysts forecast that the business will post sales of $6.66 billion, with estimates ranging from $6.44 billion to $6.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Palo Alto Networks.

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

PANW has been the subject of several recent analyst reports. Northland Securities lifted their price target on Palo Alto Networks from $585.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 23rd. Citigroup lifted their price objective on Palo Alto Networks from $585.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. KeyCorp lifted their price objective on Palo Alto Networks from $615.00 to $643.00 and gave the stock an “overweight” rating in a report on Wednesday, February 23rd. JMP Securities began coverage on Palo Alto Networks in a report on Tuesday, February 22nd. They issued an “outperform” rating and a $620.00 price objective for the company. Finally, Raymond James lifted their price objective on Palo Alto Networks from $600.00 to $610.00 and gave the stock an “outperform” rating in a 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 assigned a buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Buy” and a consensus price target of $624.47.

In related news, CEO Nikesh Arora sold 25,250 shares of the firm’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $552.67, for a total transaction of $13,954,917.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $510.38, for a total value of $6,124,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 70,657 shares of company stock valued at $39,871,738 in the last quarter. Company insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rossmore Private Capital raised its position in Palo Alto Networks by 1.0% during the third quarter. Rossmore Private Capital now owns 2,094 shares of the network technology company’s stock worth $1,003,000 after acquiring an additional 20 shares during the last quarter. FineMark National Bank & Trust raised its position in shares of Palo Alto Networks by 2.6% in the third quarter. FineMark National Bank & Trust now owns 794 shares of the network technology company’s stock valued at $380,000 after buying an additional 20 shares during the last quarter. Latitude Advisors LLC raised its position in shares of Palo Alto Networks by 2.8% in the fourth quarter. Latitude Advisors LLC now owns 738 shares of the network technology company’s stock valued at $411,000 after buying an additional 20 shares during the last quarter. Johanson Financial Advisors Inc. raised its position in shares of Palo Alto Networks by 2.6% in the fourth quarter. Johanson Financial Advisors Inc. now owns 785 shares of the network technology company’s stock valued at $437,000 after buying an additional 20 shares during the last quarter. Finally, Veriti Management LLC raised its position in shares of Palo Alto Networks by 2.8% in the fourth quarter. Veriti Management LLC now owns 722 shares of the network technology company’s stock valued at $402,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Shares of PANW traded down $2.23 on Monday, reaching $626.78. 955,827 shares of the company’s stock traded hands, compared to its average volume of 1,531,267. The stock has a market cap of $61.73 billion, a PE ratio of -132.23 and a beta of 1.28. The stock’s 50 day simple moving average is $568.38 and its two-hundred day simple moving average is $534.23. Palo Alto Networks has a 52-week low of $322.23 and a 52-week 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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Earnings History and Estimates for Palo Alto Networks (NASDAQ:PANW)

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