Palo Alto Networks Inc (NYSE:PANW) Expected to Announce Quarterly Sales of $920.76 Million

Equities analysts predict that Palo Alto Networks Inc (NYSE:PANW) will post sales of $920.76 million for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Palo Alto Networks’ earnings, with the lowest sales estimate coming in at $919.10 million and the highest estimate coming in at $923.50 million. Palo Alto Networks posted sales of $805.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, September 2nd.

According to Zacks, analysts expect that Palo Alto Networks will report full-year sales of $3.38 billion for the current financial year. For the next financial year, analysts expect that the business will post sales of $3.95 billion, with estimates ranging from $3.85 billion to $4.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $1.54. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 6.50%. The firm had revenue of $869.40 million for the quarter, compared to the consensus estimate of $831.52 million. During the same quarter in the previous year, the firm earned $1.31 EPS. The company’s quarterly revenue was up 19.7% compared to the same quarter last year.

Several analysts have weighed in on PANW shares. Rosenblatt Securities started coverage on shares of Palo Alto Networks in a research report on Tuesday, June 23rd. They set a “buy” rating on the stock. BMO Capital Markets boosted their target price on shares of Palo Alto Networks from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. Dougherty & Co raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Tuesday, May 19th. BTIG Research started coverage on shares of Palo Alto Networks in a research report on Friday, March 27th. They set a “neutral” rating on the stock. Finally, OTR Global downgraded shares of Palo Alto Networks to a “positive” rating in a research report on Friday, May 8th. Twelve equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $255.77.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $237.09, for a total transaction of $2,845,080.00. Following the completion of the transaction, the executive vice president now directly owns 974,275 shares in the company, valued at $230,990,859.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 36,000 shares of company stock valued at $7,929,120 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Modus Advisors LLC purchased a new stake in shares of Palo Alto Networks during the second quarter worth $360,000. Coastline Trust Co grew its holdings in shares of Palo Alto Networks by 4.1% during the first quarter. Coastline Trust Co now owns 1,885 shares of the network technology company’s stock worth $309,000 after buying an additional 75 shares in the last quarter. Optimal Asset Management Inc. grew its holdings in shares of Palo Alto Networks by 161.3% during the first quarter. Optimal Asset Management Inc. now owns 19,228 shares of the network technology company’s stock worth $3,153,000 after buying an additional 11,870 shares in the last quarter. Cim Investment Mangement Inc. purchased a new stake in shares of Palo Alto Networks during the first quarter worth $408,000. Finally, APG Asset Management N.V. grew its holdings in shares of Palo Alto Networks by 29.5% during the first quarter. APG Asset Management N.V. now owns 173,386 shares of the network technology company’s stock worth $28,428,000 after buying an additional 39,467 shares in the last quarter. 77.63% of the stock is owned by institutional investors and hedge funds.

NYSE:PANW traded up $1.17 during trading hours on Friday, hitting $230.53. 1,414,664 shares of the company were exchanged, compared to its average volume of 1,503,234. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of -97.68 and a beta of 1.19. Palo Alto Networks has a 52-week low of $125.47 and a 52-week high of $251.10. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.29 and a quick ratio of 1.29. The company’s 50 day moving average price is $229.53 and its 200-day moving average price is $213.35.

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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