Palo Alto Networks (NYSE:PANW) Announces Earnings Results, Beats Expectations By $0.12 EPS

Palo Alto Networks (NYSE:PANW) released its earnings results on Sunday. The network technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12, MarketWatch Earnings reports. Palo Alto Networks had a negative net margin of 8.36% and a negative return on equity of 8.66%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $985.90 million. During the same period last year, the business earned $1.19 EPS. Palo Alto Networks’s revenue for the quarter was up 24.5% on a year-over-year basis.

Shares of NYSE:PANW opened at $384.35 on Tuesday. The company has a market cap of $36.72 billion, a P/E ratio of -123.98 and a beta of 1.50. The company has a debt-to-equity ratio of 4.18, a quick ratio of 1.63 and a current ratio of 1.63. Palo Alto Networks has a one year low of $125.47 and a one year high of $403.00. The business’s 50-day simple moving average is $372.13 and its 200 day simple moving average is $296.77.

A number of equities analysts have issued reports on PANW shares. KeyCorp raised their price target on shares of Palo Alto Networks from $391.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 20th. Piper Sandler boosted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, January 5th. Robert W. Baird lifted their target price on shares of Palo Alto Networks from $295.00 to $320.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 17th. Barclays lifted their target price on shares of Palo Alto Networks from $325.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 6th. Finally, Royal Bank of Canada boosted their price target on shares of Palo Alto Networks from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, February 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $357.79.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $293.89, for a total transaction of $3,526,680.00. Also, Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $294.97, for a total value of $11,798,800.00. Following the sale, the director now owns 87,354 shares in the company, valued at $25,766,809.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,195 shares of company stock worth $68,692,035. Company insiders own 2.30% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software 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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