Wall Street brokerages expect Palo Alto Networks Inc (NYSE:PANW) to announce earnings per share (EPS) of $0.95 for the current quarter, according to Zacks Investment Research. Thirteen analysts have made estimates for Palo Alto Networks’ earnings, with the lowest EPS estimate coming in at $0.95 and the highest estimate coming in at $0.96. Palo Alto Networks reported earnings per share of $0.61 during the same quarter last year, which would suggest a positive year-over-year growth rate of 55.7%. The company is scheduled to issue its next quarterly earnings results on Wednesday, May 30th.
On average, analysts expect that Palo Alto Networks will report full year earnings of $3.88 per share for the current year, with EPS estimates ranging from $3.85 to $3.91. For the next financial year, analysts forecast that the company will post earnings of $4.93 per share, with EPS estimates ranging from $4.58 to $5.28. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Palo Alto Networks.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, February 26th. The network technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.19). The business had revenue of $542.40 million for the quarter, compared to the consensus estimate of $525.37 million. Palo Alto Networks had a negative net margin of 9.96% and a negative return on equity of 14.74%.
A number of research firms have weighed in on PANW. BTIG Research increased their target price on Palo Alto Networks from $175.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Cleveland Research raised Palo Alto Networks from a “neutral” rating to a “buy” rating in a report on Thursday, February 22nd. Deutsche Bank raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, January 23rd. Jefferies Group reissued a “buy” rating and issued a $206.00 target price on shares of Palo Alto Networks in a report on Tuesday, February 27th. Finally, UBS raised Palo Alto Networks from a “neutral” rating to a “positive” rating in a report on Wednesday, February 21st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirty-eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $181.86.
Shares of Palo Alto Networks stock traded down $3.14 during trading hours on Thursday, hitting $184.83. The stock had a trading volume of 839,433 shares, compared to its average volume of 1,513,038. The company has a market capitalization of $17,254.62, a P/E ratio of -85.18 and a beta of 0.91. Palo Alto Networks has a 1 year low of $107.31 and a 1 year high of $191.53.
In related news, Director Stanley J. Meresman sold 1,980 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $188.74, for a total transaction of $373,705.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James J. Goetz sold 68,000 shares of the stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $146.85, for a total value of $9,985,800.00. Following the sale, the director now owns 203,645 shares of the company’s stock, valued at approximately $29,905,268.25. The disclosure for this sale can be found here. Insiders have sold 369,980 shares of company stock valued at $58,260,895 in the last quarter. 4.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. purchased a new position in Palo Alto Networks during the 4th quarter valued at approximately $291,000. Grandeur Peak Global Advisors LLC grew its holdings in Palo Alto Networks by 9.1% during the 4th quarter. Grandeur Peak Global Advisors LLC now owns 8,700 shares of the network technology company’s stock valued at $1,261,000 after buying an additional 725 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in Palo Alto Networks by 11.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 14,149 shares of the network technology company’s stock valued at $2,051,000 after buying an additional 1,480 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Palo Alto Networks by 20.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,277 shares of the network technology company’s stock valued at $4,388,000 after buying an additional 5,151 shares in the last quarter. Finally, Halsey Associates Inc. CT grew its holdings in Palo Alto Networks by 31.8% during the 4th quarter. Halsey Associates Inc. CT now owns 72,302 shares of the network technology company’s stock valued at $10,479,000 after buying an additional 17,439 shares in the last quarter. Institutional investors and hedge funds own 82.09% 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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