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

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

Shares of PANW traded down $14.97 during trading hours on Tuesday, reaching $369.38. 94,928 shares of the company’s stock traded hands, compared to its average volume of 1,112,484. The stock has a market cap of $35.29 billion, a PE ratio of -119.97 and a beta of 1.50. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.18. The firm’s 50 day simple moving average is $372.13 and its 200-day simple moving average is $296.77. Palo Alto Networks has a 12 month low of $125.47 and a 12 month high of $403.00.

A number of research firms recently commented on PANW. Northland Securities increased their price target on Palo Alto Networks from $350.00 to $410.00 and gave the company an “outperform” rating in a research report on Wednesday, December 23rd. JMP Securities increased their price target on Palo Alto Networks from $310.00 to $430.00 in a research report on Wednesday, February 17th. Deutsche Bank Aktiengesellschaft increased their price target on Palo Alto Networks from $423.00 to $426.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley raised their target price on Palo Alto Networks from $423.00 to $515.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Truist raised their target price on Palo Alto Networks from $365.00 to $385.00 in a research report on Wednesday, January 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $366.62.

In other news, President Amit K. Singh sold 1,378 shares of Palo Alto Networks stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $302.86, for a total transaction of $417,341.08. Following the completion of the sale, the president now owns 132,539 shares in the company, valued at approximately $40,140,761.54. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $293.89, for a total value of $3,526,680.00. In the last quarter, insiders have sold 209,195 shares of company stock valued at $68,692,035. Corporate 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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