Brokerages Expect Palo Alto Networks (PANW) Will Post Quarterly Sales of $545.79 Million

Wall Street analysts predict that Palo Alto Networks (NYSE:PANW) will report sales of $545.79 million for the current quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for Palo Alto Networks’ earnings. The highest sales estimate is $556.35 million and the lowest is $543.21 million. Palo Alto Networks reported sales of $431.80 million during the same quarter last year, which indicates a positive year-over-year growth rate of 26.4%. The firm is scheduled to issue its next earnings report on Wednesday, May 30th.

According to Zacks, analysts expect that Palo Alto Networks will report full year sales of $545.79 million for the current year, with estimates ranging from $2.21 billion to $2.23 billion. For the next year, analysts anticipate that the company will report sales of $2.66 billion per share, with estimates ranging from $2.58 billion to $2.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, February 26th. The network technology company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.19). Palo Alto Networks had a negative return on equity of 14.74% and a negative net margin of 9.96%. The company had revenue of $542.40 million during the quarter, compared to the consensus estimate of $525.37 million.



A number of equities analysts recently issued reports on PANW shares. Evercore ISI raised shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 price target for the company in a research note on Thursday, January 18th. Goldman Sachs downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and set a $168.00 price target for the company. in a research note on Monday, January 22nd. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “strong-buy” rating and set a $181.00 price target for the company in a research note on Monday, January 22nd. Deutsche Bank raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday, January 23rd. Finally, KeyCorp raised their target price on shares of Palo Alto Networks from $170.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirty-nine have assigned a buy rating to the company. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus target price of $181.86.

In related news, Director Stanley J. Meresman sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $159.00, for a total value of $318,000.00. Following the sale, the director now owns 13,834 shares in the company, valued at $2,199,606. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark D. Mclaughlin sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. Following the completion of the sale, the chief executive officer now owns 323,610 shares in the company, valued at approximately $51,777,600. The disclosure for this sale can be found here. Insiders sold 230,960 shares of company stock worth $40,083,399 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Norway Savings Bank boosted its holdings in Palo Alto Networks by 96.2% in the fourth quarter. Norway Savings Bank now owns 3,130 shares of the network technology company’s stock worth $454,000 after purchasing an additional 1,535 shares during the last quarter. Green Square Capital LLC raised its position in Palo Alto Networks by 30.4% in the third quarter. Green Square Capital LLC now owns 4,027 shares of the network technology company’s stock worth $580,000 after acquiring an additional 939 shares during the period. AXA raised its position in Palo Alto Networks by 12.0% in the third quarter. AXA now owns 119,513 shares of the network technology company’s stock worth $17,222,000 after acquiring an additional 12,826 shares during the period. Highbridge Capital Management LLC bought a new position in Palo Alto Networks in the third quarter worth approximately $18,730,000. Finally, Vident Investment Advisory LLC bought a new position in Palo Alto Networks in the third quarter worth approximately $446,000. Institutional investors own 82.10% of the company’s stock.

PANW stock opened at $190.48 on Tuesday. Palo Alto Networks has a 1 year low of $107.37 and a 1 year high of $197.20. The stock has a market capitalization of $17,174.71, a P/E ratio of -111.39 and a beta of 0.93.

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About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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