Palo Alto Networks, Inc. (NYSE:PANW) posted its quarterly earnings results on Monday. The network technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06, Bloomberg Earnings reports. Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $489.36 million. During the same period in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. Palo Alto Networks updated its Q2 guidance to $0.78-0.80 EPS and its FY18 guidance to $3.35-3.41 EPS.
Palo Alto Networks (PANW) traded down $0.19 during mid-day trading on Monday, hitting $142.53. 4,409,366 shares of the stock were exchanged, compared to its average volume of 1,748,058. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $162.64. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.65.
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In other Palo Alto Networks news, insider Nir Zuk sold 146,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $149.86, for a total value of $21,879,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stanley J. Meresman sold 2,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $151.01, for a total transaction of $302,020.00. The disclosure for this sale can be found here. Insiders have sold 284,744 shares of company stock valued at $42,239,296 in the last three months. Corporate insiders own 4.80% of the company’s stock.
A number of equities analysts have recently weighed in on PANW shares. BidaskClub raised shares of Palo Alto Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Rosenblatt Securities reissued a “buy” rating and issued a $160.00 price objective on shares of Palo Alto Networks in a research note on Friday, September 1st. UBS AG set a $140.00 price objective on shares of Palo Alto Networks and gave the company a “hold” rating in a research note on Tuesday, August 29th. Citigroup Inc. reissued a “buy” rating and issued a $168.00 price objective (up from $160.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Finally, Maxim Group reissued a “buy” rating and issued a $168.00 price objective on shares of Palo Alto Networks in a research note on Friday, September 1st. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have given a buy rating to the stock. Palo Alto Networks has a consensus rating of “Buy” and a consensus price target of $160.33.
Palo Alto Networks Company Profile
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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