Palo Alto Networks, Inc. (NYSE:PANW) Expected to Post Earnings of $1.57 Per Share

Equities analysts predict that Palo Alto Networks, Inc. (NYSE:PANW) will post earnings of $1.57 per share for the current fiscal quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for Palo Alto Networks’ earnings. The highest EPS estimate is $1.63 and the lowest is $1.55. Palo Alto Networks posted earnings per share of $1.62 in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.1%. The company is expected to report its next quarterly earnings report on Monday, November 15th.

On average, analysts expect that Palo Alto Networks will report full-year earnings of $7.24 per share for the current year, with EPS estimates ranging from $7.20 to $7.50. For the next year, analysts anticipate that the firm will report earnings of $8.92 per share, with EPS estimates ranging from $8.03 to $9.59. Zacks’ EPS calculations are an average based on a survey of research firms that follow Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Sunday, August 22nd. The network technology company reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.16. Palo Alto Networks had a negative return on equity of 17.08% and a negative net margin of 11.72%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The company’s revenue was up 28.3% on a year-over-year basis.

A number of equities research analysts recently commented on PANW shares. Truist Securities upped their target price on Palo Alto Networks from $475.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, September 14th. Credit Suisse Group upped their target price on Palo Alto Networks from $425.00 to $463.00 and gave the company an “outperform” rating in a research report on Tuesday, August 24th. Loop Capital upped their target price on Palo Alto Networks from $410.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday, September 14th. Wedbush upped their target price on Palo Alto Networks from $450.00 to $470.00 and gave the company an “outperform” rating in a research report on Tuesday, August 24th. Finally, KeyCorp upped their target price on Palo Alto Networks from $469.00 to $507.00 and gave the company an “overweight” rating in a research report on Thursday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $506.13.

Shares of PANW stock opened at $490.47 on Wednesday. Palo Alto Networks has a fifty-two week low of $219.34 and a fifty-two week high of $495.92. The firm has a market capitalization of $47.77 billion, a price-to-earnings ratio of -94.69 and a beta of 1.40. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $425.89 and its 200-day simple moving average is $379.07.

In related news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $369.01, for a total transaction of $4,428,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John P. Key sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $457.87, for a total value of $457,870.00. Following the transaction, the director now owns 4,521 shares in the company, valued at approximately $2,070,030.27. The disclosure for this sale can be found here. Insiders have sold a total of 50,184 shares of company stock worth $20,813,424 in the last three months. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Alpha Cubed Investments LLC boosted its stake in shares of Palo Alto Networks by 4.3% in the second quarter. Alpha Cubed Investments LLC now owns 31,877 shares of the network technology company’s stock valued at $11,828,000 after buying an additional 1,300 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in Palo Alto Networks by 1.9% during the first quarter. Stephens Investment Management Group LLC now owns 128,716 shares of the network technology company’s stock worth $41,454,000 after purchasing an additional 2,377 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Palo Alto Networks by 7.5% during the second quarter. Handelsbanken Fonder AB now owns 24,135 shares of the network technology company’s stock worth $8,955,000 after purchasing an additional 1,674 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in Palo Alto Networks by 22.1% during the second quarter. Wesbanco Bank Inc. now owns 22,117 shares of the network technology company’s stock worth $8,206,000 after purchasing an additional 4,006 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Palo Alto Networks by 23.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,123 shares of the network technology company’s stock worth $2,616,000 after purchasing an additional 1,549 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

Read More: What is the S&P/ASX 200 Index?

Get a free copy of the Zacks research report on Palo Alto Networks (PANW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Palo Alto Networks (NYSE:PANW)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.