Brokerages expect that Palo Alto Networks Inc (NYSE:PANW) will report sales of $803.06 million for the current fiscal quarter, according to Zacks. Fourteen analysts have issued estimates for Palo Alto Networks’ earnings, with the lowest sales estimate coming in at $798.60 million and the highest estimate coming in at $817.21 million. Palo Alto Networks posted sales of $658.10 million during the same quarter last year, which would indicate a positive year over year growth rate of 22%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, September 4th.
On average, analysts expect that Palo Alto Networks will report full-year sales of $2.90 billion for the current fiscal year, with estimates ranging from $2.88 billion to $2.91 billion. For the next year, analysts forecast that the firm will post sales of $3.44 billion, with estimates ranging from $3.34 billion to $3.58 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Palo Alto Networks.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Wednesday, May 29th. The network technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). Palo Alto Networks had a positive return on equity of 5.42% and a negative net margin of 2.30%. The company had revenue of $726.60 million for the quarter, compared to analysts’ expectations of $704.89 million. During the same quarter in the prior year, the company earned $0.99 EPS. The company’s revenue was up 28.0% on a year-over-year basis.
A number of equities research analysts recently issued reports on PANW shares. JMP Securities lowered their price objective on Palo Alto Networks from $270.00 to $250.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 30th. Cowen started coverage on Palo Alto Networks in a research report on Thursday, May 23rd. They issued a “market perform” rating and a $230.00 price objective on the stock. Raymond James lowered their price objective on Palo Alto Networks from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Barclays lowered their price objective on Palo Alto Networks from $303.00 to $242.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, ValuEngine downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $263.03.
In other news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $226.80, for a total transaction of $2,721,600.00. Following the transaction, the executive vice president now directly owns 926,861 shares of the company’s stock, valued at $210,212,074.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $227.43, for a total value of $9,097,200.00. Following the transaction, the director now directly owns 240,236 shares in the company, valued at $54,636,873.48. The disclosure for this sale can be found here. In the last three months, insiders sold 186,092 shares of company stock worth $39,067,840. 3.10% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in PANW. Senator Investment Group LP bought a new position in shares of Palo Alto Networks during the second quarter valued at about $203,760,000. Renaissance Technologies LLC grew its stake in shares of Palo Alto Networks by 13.2% during the second quarter. Renaissance Technologies LLC now owns 5,074,350 shares of the network technology company’s stock valued at $1,033,950,000 after buying an additional 590,200 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Palo Alto Networks by 292.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 620,651 shares of the network technology company’s stock valued at $126,464,000 after buying an additional 462,447 shares during the last quarter. Cadian Capital Management LP grew its stake in shares of Palo Alto Networks by 41.9% during the second quarter. Cadian Capital Management LP now owns 1,318,316 shares of the network technology company’s stock valued at $268,620,000 after buying an additional 389,383 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Palo Alto Networks by 215.5% during the first quarter. Neuberger Berman Group LLC now owns 524,733 shares of the network technology company’s stock valued at $127,447,000 after buying an additional 358,412 shares during the last quarter. 79.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PANW stock traded down $15.34 on Tuesday, reaching $199.27. The company’s stock had a trading volume of 4,971,900 shares, compared to its average volume of 884,411. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.97. Palo Alto Networks has a 12-month low of $160.08 and a 12-month high of $260.63. The company has a market capitalization of $20.60 billion, a P/E ratio of -362.31, a PEG ratio of 7.29 and a beta of 0.90. The stock’s 50 day simple moving average is $217.08 and its 200-day simple moving average is $225.56.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network 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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