Palo Alto Networks (NYSE:PANW) released its quarterly earnings results on Thursday. The network technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $1.54, MarketWatch Earnings reports. Palo Alto Networks had a negative return on equity of 5.65% and a negative net margin of 7.01%. The firm had revenue of $869.40 million during the quarter, compared to the consensus estimate of $831.52 million. During the same quarter in the prior year, the firm posted $1.31 EPS. The business’s revenue was up 19.7% on a year-over-year basis.
PANW opened at $237.93 on Friday. The firm has a market cap of $22.88 billion, a P/E ratio of -100.82 and a beta of 1.14. Palo Alto Networks has a 52-week low of $125.47 and a 52-week high of $251.10. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.78 and a current ratio of 1.78. The business’s fifty day moving average is $195.88 and its 200-day moving average is $214.24.
In other Palo Alto Networks news, Director John Donovan acquired 8,102 shares of Palo Alto Networks stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average cost of $185.35 per share, with a total value of $1,501,705.70. Following the completion of the purchase, the director now directly owns 11,222 shares of the company’s stock, valued at approximately $2,079,997.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $194.20, for a total value of $2,330,400.00. Following the completion of the sale, the executive vice president now directly owns 986,875 shares in the company, valued at $191,651,125. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
A number of brokerages have recently issued reports on PANW. JPMorgan Chase & Co. cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $284.00 to $236.00 in a research note on Tuesday, February 25th. BMO Capital Markets upped their price objective on Palo Alto Networks from $220.00 to $230.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. BTIG Research began coverage on Palo Alto Networks in a research note on Friday, March 27th. They set a “neutral” rating on the stock. Credit Suisse Group upped their price objective on Palo Alto Networks from $190.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Goldman Sachs Group upped their price objective on Palo Alto Networks from $219.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $254.48.
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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