Wall Street analysts expect Palo Alto Networks Inc (NYSE:PANW) to report $920.76 million in sales for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Palo Alto Networks’ earnings, with the lowest sales estimate coming in at $919.10 million and the highest estimate coming in at $923.50 million. Palo Alto Networks posted sales of $805.80 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.3%. The company is scheduled to issue its next quarterly earnings report on Wednesday, September 2nd.
According to Zacks, analysts expect that Palo Alto Networks will report full-year sales of $3.38 billion for the current year. For the next fiscal year, analysts anticipate that the business will post sales of $3.95 billion, with estimates ranging from $3.85 billion to $4.03 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Palo Alto Networks.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $1.54. The firm had revenue of $869.40 million during the quarter, compared to analysts’ expectations of $831.52 million. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 6.50%. Palo Alto Networks’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS.
Several analysts have commented on the stock. Mizuho lifted their target price on shares of Palo Alto Networks from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Wells Fargo & Co lifted their price target on shares of Palo Alto Networks from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Rosenblatt Securities initiated coverage on shares of Palo Alto Networks in a report on Tuesday, June 23rd. They issued a “buy” rating on the stock. Dougherty & Co upgraded shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Tuesday, May 19th. Finally, SunTrust Banks lifted their price target on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, May 18th. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Palo Alto Networks has an average rating of “Buy” and an average target price of $255.77.
PANW stock traded down $0.56 during midday trading on Friday, hitting $226.53. The stock had a trading volume of 48,877 shares, compared to its average volume of 1,432,473. The firm has a market cap of $22.64 billion, a PE ratio of -96.22 and a beta of 1.18. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.29 and a quick ratio of 1.29. Palo Alto Networks has a 12-month low of $125.47 and a 12-month high of $251.10. The company’s 50-day moving average price is $228.73 and its 200 day moving average price is $213.31.
In other news, EVP Nir Zuk sold 12,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $194.20, for a total transaction of $2,330,400.00. Following the transaction, the executive vice president now owns 986,875 shares in the company, valued at approximately $191,651,125. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 36,000 shares of company stock worth $7,164,480. Company insiders own 2.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Dai Ichi Life Insurance Company Ltd increased its holdings in Palo Alto Networks by 3.8% during the fourth quarter. Dai Ichi Life Insurance Company Ltd now owns 1,298 shares of the network technology company’s stock worth $300,000 after buying an additional 47 shares during the last quarter. Montag A & Associates Inc. boosted its position in shares of Palo Alto Networks by 3.5% in the first quarter. Montag A & Associates Inc. now owns 1,956 shares of the network technology company’s stock valued at $321,000 after acquiring an additional 67 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Palo Alto Networks by 34.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 290 shares of the network technology company’s stock valued at $48,000 after acquiring an additional 74 shares during the period. Coastline Trust Co boosted its position in shares of Palo Alto Networks by 4.1% in the first quarter. Coastline Trust Co now owns 1,885 shares of the network technology company’s stock valued at $309,000 after acquiring an additional 75 shares during the period. Finally, AE Wealth Management LLC boosted its position in shares of Palo Alto Networks by 5.0% in the first quarter. AE Wealth Management LLC now owns 2,079 shares of the network technology company’s stock valued at $341,000 after acquiring an additional 99 shares during the period. 77.63% of the stock is owned by hedge funds and other institutional investors.
About Palo Alto Networks
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
Further Reading: How to Invest in a Bull Market
Get a free copy of the Zacks research report on Palo Alto Networks (PANW)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.