Palo Alto Networks (NYSE:PANW) Updates Q1 2022 Earnings Guidance

Palo Alto Networks (NYSE:PANW) issued an update on its first quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.550-$1.580 for the period, compared to the Thomson Reuters consensus estimate of $1.600. The company issued revenue guidance of $1.19 billion-$1.21 billion, compared to the consensus revenue estimate of $1.15 billion.Palo Alto Networks also updated its FY 2022 guidance to $7.150-$7.250 EPS.

A number of brokerages have recently issued reports on PANW. Northland Securities raised their price objective on Palo Alto Networks from $460.00 to $585.00 and gave the stock an outperform rating in a research report on Tuesday. Barclays lifted their target price on shares of Palo Alto Networks from $535.00 to $615.00 and gave the stock an overweight rating in a research note on Tuesday. Cowen increased their price target on Palo Alto Networks from $425.00 to $475.00 and gave the stock an outperform rating in a report on Tuesday, August 24th. Robert W. Baird lifted their price objective on shares of Palo Alto Networks from $480.00 to $540.00 and gave the company an outperform rating in a research note on Tuesday. Finally, JMP Securities reaffirmed a buy rating and issued a $550.00 price objective (up from $455.00) on shares of Palo Alto Networks in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of Buy and an average target price of $506.13.

Palo Alto Networks stock opened at $484.83 on Wednesday. The stock has a market cap of $47.23 billion, a P/E ratio of -93.60 and a beta of 1.40. Palo Alto Networks has a fifty-two week low of $219.34 and a fifty-two week high of $495.92. The firm’s fifty day moving average price is $411.18 and its 200-day moving average price is $371.94. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.38 and a current ratio of 0.91.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Sunday, August 22nd. The network technology company reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.16. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Palo Alto Networks had a negative return on equity of 17.08% and a negative net margin of 11.72%. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. Sell-side analysts predict that Palo Alto Networks will post -0.47 earnings per share for the current year.

In related news, EVP Nir Zuk sold 12,000 shares of the stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $369.01, for a total transaction of $4,428,120.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark D. Mclaughlin sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $460.03, for a total value of $690,045.00. The disclosure for this sale can be found here. Insiders sold a total of 50,184 shares of company stock worth $20,813,424 in the last three months. Insiders own 2.30% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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Earnings History and Estimates for Palo Alto Networks (NYSE:PANW)

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