Brokerages predict that Palo Alto Networks, Inc. (NYSE:PANW) will post $489.30 million in sales for the current quarter, Zacks reports. Twelve analysts have issued estimates for Palo Alto Networks’ earnings. The lowest sales estimate is $482.04 million and the highest is $501.40 million. Palo Alto Networks reported sales of $398.10 million in the same quarter last year, which indicates a positive year over year growth rate of 22.9%. The company is scheduled to report its next quarterly earnings report on Monday, November 20th.
According to Zacks, analysts expect that Palo Alto Networks will report full-year sales of $489.30 million for the current financial year, with estimates ranging from $2.13 billion to $2.19 billion. For the next financial year, analysts forecast that the firm will report sales of $2.58 billion per share, with estimates ranging from $2.50 billion to $2.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Palo Alto Networks.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by $0.92. The business had revenue of $509 million during the quarter, compared to analyst estimates of $487.53 million. Palo Alto Networks had a negative return on equity of 19.08% and a negative net margin of 12.57%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS.
Several research firms have recently weighed in on PANW. UBS AG reiterated a “neutral” rating and issued a $140.00 price target (up previously from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. Evercore ISI set a $140.00 price target on shares of Palo Alto Networks and gave the company a “hold” rating in a report on Saturday, June 17th. Argus upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a report on Tuesday, September 5th. FBN Securities reiterated a “sector perform” rating and issued a $155.00 price target (up previously from $135.00) on shares of Palo Alto Networks in a report on Tuesday, September 5th. Finally, Dougherty & Co reiterated a “buy” rating and issued a $165.00 price target (up previously from $155.00) on shares of Palo Alto Networks in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $157.91.
Palo Alto Networks (PANW) traded up 0.25% on Friday, reaching $144.03. 2,216,620 shares of the company’s stock traded hands. The firm’s market capitalization is $13.23 billion. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $165.69. The firm’s 50 day moving average price is $133.97 and its 200 day moving average price is $126.23.
In other news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the sale, the director now directly owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PANW. American Century Companies Inc. boosted its stake in shares of Palo Alto Networks by 512.7% in the 2nd quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after purchasing an additional 1,462,162 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Palo Alto Networks by 13,115.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after purchasing an additional 1,163,306 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Palo Alto Networks by 109.9% in the 2nd quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after purchasing an additional 598,115 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Palo Alto Networks by 5,177.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after purchasing an additional 487,200 shares in the last quarter. Finally, Hunt Lane Capital LP acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $42,818,000. Institutional investors own 77.05% of the company’s stock.
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About Palo Alto Networks
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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