Palo Alto Networks Inc (PANW) Expected to Post Earnings of $1.17 Per Share

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Equities research analysts expect that Palo Alto Networks Inc (NYSE:PANW) will announce earnings of $1.17 per share for the current quarter, Zacks Investment Research reports. Thirteen analysts have issued estimates for Palo Alto Networks’ earnings, with estimates ranging from $1.15 to $1.20. Palo Alto Networks reported earnings per share of $0.92 in the same quarter last year, which would indicate a positive year over year growth rate of 27.2%. The company is expected to issue its next earnings report on Thursday, August 30th.

According to Zacks, analysts expect that Palo Alto Networks will report full year earnings of $3.88 per share for the current financial year, with EPS estimates ranging from $3.86 to $3.90. For the next financial year, analysts anticipate that the company will report earnings of $4.90 per share, with EPS estimates ranging from $4.58 to $5.30. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, June 4th. The network technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.08. The company had revenue of $567.10 million for the quarter, compared to analysts’ expectations of $545.79 million. Palo Alto Networks had a negative net margin of 8.65% and a negative return on equity of 8.51%.

A number of brokerages have weighed in on PANW. Argus boosted their target price on Palo Alto Networks to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, June 5th. BMO Capital Markets boosted their target price on Palo Alto Networks from $220.00 to $222.00 and gave the stock a “market perform” rating in a research report on Friday, June 8th. Robert W. Baird boosted their target price on Palo Alto Networks from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 5th. Credit Suisse Group boosted their target price on Palo Alto Networks from $150.00 to $175.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 5th. Finally, Wells Fargo & Co boosted their target price on Palo Alto Networks from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirty-seven have given a buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and an average price target of $198.68.

Palo Alto Networks stock traded down $5.11 during mid-day trading on Friday, reaching $207.59. The stock had a trading volume of 1,607,304 shares, compared to its average volume of 1,742,751. Palo Alto Networks has a one year low of $126.56 and a one year high of $217.40. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of -121.40 and a beta of 0.99.

In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $212.85, for a total value of $6,385,500.00. Following the completion of the transaction, the executive vice president now directly owns 1,272,500 shares in the company, valued at approximately $270,851,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $191.21, for a total value of $7,648,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 73,910 shares of company stock valued at $15,307,149 and sold 230,194 shares valued at $44,404,417. Corporate insiders own 4.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its position in shares of Palo Alto Networks by 4.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 169,167 shares of the network technology company’s stock valued at $24,520,000 after acquiring an additional 7,673 shares during the last quarter. Aperio Group LLC boosted its position in shares of Palo Alto Networks by 2.4% during the 4th quarter. Aperio Group LLC now owns 19,558 shares of the network technology company’s stock valued at $2,835,000 after acquiring an additional 463 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Palo Alto Networks by 15.5% during the 4th quarter. California Public Employees Retirement System now owns 191,053 shares of the network technology company’s stock valued at $27,691,000 after acquiring an additional 25,653 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Palo Alto Networks by 38.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,114 shares of the network technology company’s stock valued at $1,900,000 after acquiring an additional 3,642 shares during the last quarter. Finally, ACG Wealth bought a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $226,000. Institutional investors and hedge funds own 80.51% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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