Wall Street analysts forecast that Palo Alto Networks Inc (NYSE:PANW) will report $844.32 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Palo Alto Networks’ earnings. The highest sales estimate is $853.70 million and the lowest is $841.10 million. Palo Alto Networks reported sales of $711.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 18.7%. The firm is scheduled to report its next earnings results on Tuesday, February 25th.
According to Zacks, analysts expect that Palo Alto Networks will report full year sales of $3.46 billion for the current year, with estimates ranging from $3.44 billion to $3.48 billion. For the next fiscal year, analysts anticipate that the business will report sales of $4.12 billion, with estimates ranging from $4.04 billion to $4.19 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Palo Alto Networks.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 25th. The network technology company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $1.22. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $769.34 million. Palo Alto Networks had a negative net margin of 3.42% and a positive return on equity of 2.43%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share.
Several research analysts have recently issued reports on PANW shares. Rosenblatt Securities reaffirmed a “hold” rating and issued a $220.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, November 26th. Robert W. Baird set a $275.00 price objective on Palo Alto Networks and gave the company a “buy” rating in a research note on Sunday, September 15th. Citigroup upped their price objective on Palo Alto Networks from $247.00 to $283.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. KeyCorp lowered their price objective on Palo Alto Networks from $280.00 to $250.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, Wells Fargo & Co lowered their price objective on Palo Alto Networks from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus target price of $261.06.
In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $226.39, for a total transaction of $2,716,680.00. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $207.78, for a total value of $8,311,200.00. Following the transaction, the director now owns 240,236 shares in the company, valued at $49,916,236.08. The disclosure for this sale can be found here. Insiders have sold a total of 89,610 shares of company stock valued at $19,154,651 in the last three months. Insiders own 2.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Resources Management Corp CT ADV bought a new position in shares of Palo Alto Networks during the 3rd quarter worth approximately $25,000. Capital Investment Advisory Services LLC lifted its holdings in shares of Palo Alto Networks by 322.6% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 131 shares of the network technology company’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Palo Alto Networks in the 2nd quarter worth $30,000. CSat Investment Advisory L.P. bought a new position in shares of Palo Alto Networks in the 2nd quarter worth $33,000. Finally, Glassman Wealth Services lifted its holdings in shares of Palo Alto Networks by 347.2% in the 3rd quarter. Glassman Wealth Services now owns 161 shares of the network technology company’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Shares of PANW stock traded down $2.48 on Thursday, reaching $226.39. The company had a trading volume of 904,760 shares, compared to its average volume of 1,681,648. The business’s 50-day moving average is $231.39 and its 200 day moving average is $215.52. Palo Alto Networks has a one year low of $168.80 and a one year high of $260.63. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $22.42 billion, a PE ratio of 359.35 and a beta of 0.94.
About Palo Alto Networks
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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