Palo Alto Networks (NYSE:PANW) Announces Quarterly Earnings Results

Palo Alto Networks (NYSE:PANW) issued its earnings results on Sunday. The network technology company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.12, MarketWatch Earnings reports. Palo Alto Networks had a negative return on equity of 8.66% and a negative net margin of 8.36%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $985.90 million. During the same period in the previous year, the company posted $1.19 earnings per share. The business’s revenue was up 24.5% on a year-over-year basis.

NYSE:PANW traded down $12.52 during trading hours on Tuesday, reaching $371.83. The company’s stock had a trading volume of 84,599 shares, compared to its average volume of 1,112,484. The company has a debt-to-equity ratio of 4.18, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $35.52 billion, a price-to-earnings ratio of -122.22 and a beta of 1.50. The firm has a 50-day simple moving average of $372.13 and a 200-day simple moving average of $296.77. Palo Alto Networks has a 1 year low of $125.47 and a 1 year high of $403.00.

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Several research firms have recently issued reports on PANW. Zacks Investment Research raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating and set a $237.00 price target on the stock in a research report on Tuesday, November 17th. DA Davidson boosted their target price on shares of Palo Alto Networks from $325.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird raised their price target on Palo Alto Networks from $295.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, November 17th. Credit Suisse Group upgraded Palo Alto Networks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $385.00 to $425.00 in a research note on Tuesday, February 2nd. Finally, KeyCorp raised their target price on Palo Alto Networks from $391.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $366.62.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction dated Friday, November 27th. The shares were sold at an average price of $294.97, for a total value of $11,798,800.00. Following the transaction, the director now owns 87,354 shares in the company, valued at $25,766,809.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $293.89, for a total transaction of $3,526,680.00. In the last three months, insiders have sold 209,195 shares of company stock valued at $68,692,035. Insiders own 2.30% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software 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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