Palo Alto Networks (NYSE:PANW) Issues Q2 Earnings Guidance

Palo Alto Networks (NYSE:PANW) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.78-0.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.77. The company issued revenue guidance of $518-528 million, compared to the consensus revenue estimate of $519.73 million.Palo Alto Networks also updated its FY18 guidance to $3.35-3.41 EPS.

Several equities research analysts have weighed in on PANW shares. William Blair upgraded shares of Palo Alto Networks from a market perform rating to an outperform rating in a research report on Monday. Zacks Investment Research cut shares of Palo Alto Networks from a buy rating to a hold rating in a research report on Wednesday, November 29th. Imperial Capital lifted their price target on shares of Palo Alto Networks from $165.00 to $175.00 and gave the stock an outperform rating in a research report on Wednesday, November 22nd. Telsey Advisory Group lifted their price target on shares of Palo Alto Networks from $165.00 to $175.00 and gave the stock an outperform rating in a research report on Wednesday, November 22nd. Finally, Sanford C. Bernstein lifted their price target on shares of Palo Alto Networks from $180.00 to $200.00 and gave the stock an outperform rating in a research report on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $162.84.

Shares of Palo Alto Networks (NYSE:PANW) traded up $1.46 during mid-day trading on Thursday, hitting $142.83. 1,508,816 shares of the stock were exchanged, compared to its average volume of 1,770,410. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $157.65.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. The business had revenue of $505.50 million for the quarter, compared to analyst estimates of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. research analysts forecast that Palo Alto Networks will post -0.37 EPS for the current year.

In related news, President Mark Anderson sold 15,614 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $144.16, for a total transaction of $2,250,914.24. Following the transaction, the president now directly owns 186,413 shares in the company, valued at $26,873,298.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Carl M. Eschenbach sold 1,572 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total transaction of $227,924.28. Following the transaction, the director now owns 3,619 shares in the company, valued at $524,718.81. The disclosure for this sale can be found here. In the last three months, insiders sold 346,785 shares of company stock worth $51,471,366. 4.80% of the stock is currently owned by insiders.

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Palo Alto Networks Company Profile

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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