Palo Alto Networks, Inc. (NASDAQ:PANW) Expected to Announce Earnings of $2.21 Per Share

Equities analysts expect Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) to report earnings of $2.21 per share for the current quarter, according to Zacks. Thirteen analysts have made estimates for Palo Alto Networks’ earnings. The lowest EPS estimate is $2.19 and the highest is $2.24. Palo Alto Networks reported earnings of $1.60 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 38.1%. The firm is scheduled to announce its next quarterly earnings results 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 year, analysts expect that the business will post earnings of $8.96 per share, with EPS estimates ranging from $8.65 to $9.44. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Palo Alto Networks.

Palo Alto Networks (NASDAQ:PANWGet Rating) last posted its earnings results on Thursday, May 19th. The network technology company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.11. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Palo Alto Networks had a negative net margin of 7.54% and a negative return on equity of 54.57%. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.62) earnings per share.

A number of research firms have recently commented on PANW. Northland Securities increased their target price on shares of Palo Alto Networks from $585.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 23rd. KeyCorp increased their target price on shares of Palo Alto Networks from $610.00 to $729.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Company reissued a “buy” rating and issued a $700.00 target price on shares of Palo Alto Networks in a report on Friday. BTIG Research upped their price objective on Palo Alto Networks from $610.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, April 8th. Finally, Jefferies Financial Group lowered their price objective on Palo Alto Networks to $600.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and thirty have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $626.48.

In related news, EVP Lee Klarich sold 3,500 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $479.46, for a total value of $1,678,110.00. Following the transaction, the executive vice president now directly owns 252,551 shares in the company, valued at approximately $121,088,102.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 25,250 shares of the stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $552.67, for a total value of $13,954,917.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,032 shares of company stock valued at $40,587,677. Insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its stake in Palo Alto Networks by 317.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,237,932 shares of the network technology company’s stock valued at $689,231,000 after acquiring an additional 941,271 shares in the last quarter. Norges Bank bought a new position in Palo Alto Networks during the 4th quarter valued at $522,352,000. Winslow Capital Management LLC bought a new position in Palo Alto Networks during the 1st quarter valued at $410,696,000. Liontrust Investment Partners LLP bought a new position in Palo Alto Networks during the 3rd quarter valued at $176,464,000. Finally, Carmignac Gestion bought a new position in Palo Alto Networks during the 3rd quarter valued at $120,362,000. Institutional investors own 84.33% of the company’s stock.

Shares of PANW stock traded up $42.31 on Friday, reaching $478.68. The company had a trading volume of 5,894,876 shares, compared to its average volume of 1,870,264. The stock has a market capitalization of $47.14 billion, a PE ratio of -120.27 and a beta of 1.28. Palo Alto Networks has a one year low of $350.96 and a one year high of $640.90. The business’s 50-day moving average is $569.01 and its 200 day moving average is $540.54.

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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