Palo Alto Networks (NYSE:PANW) Posts Earnings Results, Beats Expectations By $1.54 EPS

Palo Alto Networks (NYSE:PANW) released its quarterly earnings data on Thursday. The network technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $1.54, MarketWatch Earnings reports. Palo Alto Networks had a negative return on equity of 5.65% and a negative net margin of 7.01%. The company had revenue of $869.40 million for the quarter, compared to analyst estimates of $831.52 million. During the same period in the previous year, the company posted $1.31 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year.

PANW stock opened at $237.93 on Friday. The company has a market cap of $22.88 billion, a P/E ratio of -100.82 and a beta of 1.14. Palo Alto Networks has a 1 year low of $125.47 and a 1 year high of $251.10. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78. The stock’s fifty day moving average price is $195.88 and its 200-day moving average price is $214.24.

A number of research firms have recently issued reports on PANW. JPMorgan Chase & Co. cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $284.00 to $236.00 in a report on Tuesday, February 25th. BMO Capital Markets increased their target price on Palo Alto Networks from $220.00 to $230.00 and gave the company a “market perform” rating in a report on Monday, May 18th. ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Morgan Stanley reaffirmed a “buy” rating and set a $269.00 price target on shares of Palo Alto Networks in a research report on Friday. Finally, Oppenheimer upped their price target on Palo Alto Networks from $225.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday. Twelve research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus price target of $254.48.

In other news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $194.20, for a total value of $2,330,400.00. Following the transaction, the executive vice president now directly owns 986,875 shares in the company, valued at approximately $191,651,125. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Donovan purchased 8,102 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was purchased at an average price of $185.35 per share, for a total transaction of $1,501,705.70. Following the completion of the purchase, the director now owns 11,222 shares in the company, valued at $2,079,997.70. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.

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.

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Earnings History for Palo Alto Networks (NYSE:PANW)

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