Palo Alto Networks (NASDAQ:PANW) Issues Quarterly Earnings Results

Palo Alto Networks (NASDAQ:PANW) posted its quarterly earnings results on Monday. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10, Briefing.com reports. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. Palo Alto Networks updated its Q1 guidance to $1.47-1.49 EPS and its FY25 guidance to $6.18-6.31 EPS.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $368.01 on Wednesday. The firm has a fifty day moving average of $328.10 and a two-hundred day moving average of $310.84. The firm has a market cap of $119.16 billion, a P/E ratio of 53.49, a P/E/G ratio of 4.48 and a beta of 1.14. Palo Alto Networks has a 1-year low of $224.64 and a 1-year high of $380.84.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Evercore ISI boosted their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays upped their price objective on shares of Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday. KeyCorp lifted their target price on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday. Scotiabank increased their price target on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group upped their target price on Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a research note on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $360.20.

Insider Activity

In related news, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the sale, the president now directly owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now owns 20,501 shares in the company, valued at $6,292,166.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 366,993 shares of company stock worth $118,596,770. 3.30% of the stock is currently owned by corporate insiders.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.