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.
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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