Palo Alto Networks (PANW) Set to Announce Earnings on Wednesday

Palo Alto Networks (NASDAQ:PANW) will post its quarterly earnings results after the market closes on Wednesday, November 20th. Analysts expect Palo Alto Networks to post earnings of $1.48 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business earned $0.80 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. On average, analysts expect Palo Alto Networks to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Palo Alto Networks Trading Down 0.0 %

NASDAQ:PANW opened at $386.83 on Tuesday. Palo Alto Networks has a 1-year low of $249.56 and a 1-year high of $408.53. The firm has a fifty day simple moving average of $360.72 and a 200 day simple moving average of $337.38. The stock has a market capitalization of $125.95 billion, a PE ratio of 53.36, a P/E/G ratio of 5.61 and a beta of 1.12.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the transaction, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares in the company, valued at $219,505,142.12. The trade was a 9.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,252 shares of company stock valued at $89,041,637. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Monday, November 4th. Robert W. Baird raised their target price on shares of Palo Alto Networks from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial raised their price target on Palo Alto Networks from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets raised their price target on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Bank of America raised their price target on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $390.39.

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.