Palo Alto Networks (NYSE:PANW) Updates Q3 2020 After-Hours Earnings Guidance

Palo Alto Networks (NYSE:PANW) updated its third quarter 2020
After-Hours earnings guidance on Monday. The company provided earnings per share guidance of 0.96-0.98 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.25. The company issued revenue guidance of $835-850 million, compared to the consensus revenue estimate of $873.02 million.Palo Alto Networks also updated its FY 2020
After-Hours guidance to 4.55-4.65 EPS.

Shares of PANW stock traded up $1.98 during mid-day trading on Thursday, hitting $191.56. 1,269,843 shares of the stock were exchanged, compared to its average volume of 1,349,720. The stock’s fifty day simple moving average is $241.40 and its two-hundred day simple moving average is $225.78. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.78 and a current ratio of 1.78. Palo Alto Networks has a 12-month low of $187.52 and a 12-month high of $260.63. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of -106.42 and a beta of 0.96.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, February 24th. The network technology company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.07. The business had revenue of $816.70 million during the quarter, compared to the consensus estimate of $842.13 million. Palo Alto Networks had a negative return on equity of 2.23% and a negative net margin of 5.58%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 EPS. On average, research analysts expect that Palo Alto Networks will post -0.12 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on PANW shares. Wedbush lowered their price objective on shares of Palo Alto Networks from $275.00 to $240.00 and set an outperform rating on the stock in a research report on Tuesday. Barclays reduced their target price on shares of Palo Alto Networks from $260.00 to $236.00 and set an overweight rating for the company in a research note on Tuesday. Oppenheimer lowered their target price on shares of Palo Alto Networks from $275.00 to $250.00 and set an outperform rating on the stock in a report on Tuesday. First Analysis lowered shares of Palo Alto Networks from a strong-buy rating to an outperform rating and dropped their price target for the stock from $295.00 to $290.00 in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada cut shares of Palo Alto Networks from an outperform rating to a sector perform rating and cut their price target for the stock from $280.00 to $235.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $251.88.

In related news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.86, for a total value of $2,818,320.00. Following the completion of the sale, the executive vice president now owns 875,246 shares in the company, valued at $205,560,275.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark D. Mclaughlin sold 19,050 shares of Palo Alto Networks stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $249.03, for a total transaction of $4,744,021.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,562 shares of company stock valued at $11,132,020. Company insiders own 2.30% of the company’s stock.

Palo Alto Networks Company Profile

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 and Estimates for Palo Alto Networks (NYSE:PANW)

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