Analysts Anticipate Palo Alto Networks, Inc. (NYSE:PANW) to Announce $1.28 EPS


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Equities analysts expect that Palo Alto Networks, Inc. (NYSE:PANW) will post earnings per share of $1.28 for the current quarter, Zacks Investment Research reports. Thirteen analysts have issued estimates for Palo Alto Networks’ earnings. The highest EPS estimate is $1.32 and the lowest is $1.28. Palo Alto Networks reported earnings of $1.17 per share in the same quarter last year, which would indicate a positive year over year growth rate of 9.4%. The firm is scheduled to report its next earnings results on Thursday, May 20th.

According to Zacks, analysts expect that Palo Alto Networks will report full year earnings of $5.87 per share for the current year, with EPS estimates ranging from $5.81 to $6.15. For the next year, analysts anticipate that the company will post earnings of $7.00 per share, with EPS estimates ranging from $6.61 to $7.41. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Sunday, February 21st. The network technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. The firm 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%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 EPS.

A number of brokerages recently issued reports on PANW. Morgan Stanley increased their price objective on Palo Alto Networks from $423.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Mizuho raised their price objective on Palo Alto Networks from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Credit Suisse Group raised Palo Alto Networks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $385.00 to $425.00 in a research note on Tuesday, February 2nd. The Goldman Sachs Group raised their target price on Palo Alto Networks from $310.00 to $408.00 and gave the stock a “buy” rating in a research note on Friday, January 8th. Finally, KeyCorp raised their price objective on shares of Palo Alto Networks from $391.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, January 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $377.06.

Shares of NYSE PANW opened at $338.57 on Monday. The firm has a market cap of $32.92 billion, a price-to-earnings ratio of -109.22 and a beta of 1.50. The stock has a fifty day simple moving average of $344.07 and a two-hundred day simple moving average of $315.26. Palo Alto Networks has a 1-year low of $172.36 and a 1-year high of $403.00. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.18.

In related news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $361.90, for a total value of $4,342,800.00. Following the transaction, the executive vice president now owns 882,856 shares in the company, valued at $319,505,586.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Amit K. Singh sold 1,378 shares of the stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $379.69, for a total transaction of $523,212.82. Following the completion of the sale, the president now directly owns 127,310 shares of the company’s stock, valued at approximately $48,338,333.90. The disclosure for this sale can be found here. Insiders have sold a total of 89,917 shares of company stock worth $32,113,001 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Litman Gregory Asset Management LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at $39,000. Hudock Inc. raised its position in Palo Alto Networks by 100.0% in the fourth quarter. Hudock Inc. now owns 112 shares of the network technology company’s stock worth $39,000 after acquiring an additional 56 shares in the last quarter. Curi Capital bought a new stake in Palo Alto Networks in the fourth quarter worth about $40,000. Harvest Fund Management Co. Ltd purchased a new position in Palo Alto Networks in the 4th quarter worth about $41,000. Finally, Valley Brook Capital Group purchased a new position in Palo Alto Networks in the 4th quarter worth about $47,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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

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