Palo Alto Networks (NASDAQ:PANW) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Palo Alto Networks (NASDAQ:PANW) announced its quarterly earnings data on Monday. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10, Briefing.com reports. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. Palo Alto Networks updated its Q1 guidance to $1.47-1.49 EPS and its FY25 guidance to $6.18-6.31 EPS.

Palo Alto Networks Stock Performance

PANW traded up $9.25 during midday trading on Monday, reaching $343.36. The company had a trading volume of 6,214,356 shares, compared to its average volume of 4,376,870. The business has a 50-day moving average price of $326.31 and a two-hundred day moving average price of $310.65. Palo Alto Networks has a 12-month low of $224.64 and a 12-month high of $380.84. The stock has a market cap of $111.18 billion, a PE ratio of 49.91, a P/E/G ratio of 4.48 and a beta of 1.14.

Insider Buying and Selling

In other news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now owns 20,501 shares in the company, valued at approximately $6,292,166.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the sale, the president now owns 20,501 shares in the company, valued at $6,292,166.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 367,315 shares of company stock valued at $118,696,590. 3.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PANW has been the topic of a number of analyst reports. Daiwa Capital Markets assumed coverage on shares of Palo Alto Networks in a research report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 target price on the stock. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their target price for the company from $350.00 to $325.00 in a research report on Thursday, July 18th. Wedbush reaffirmed an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Finally, JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.59.

Palo Alto Networks Company Profile

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.