Palo Alto Networks (NYSE:PANW) Issues Q2 2022 Earnings Guidance

Palo Alto Networks (NYSE:PANW) issued an update on its second quarter 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $1.630-$1.660 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.640. The company issued revenue guidance of $1.51 billion-$1.53 billion, compared to the consensus revenue estimate of $1.27 billion.Palo Alto Networks also updated its FY 2022 guidance to $7.150-$7.250 EPS.

Palo Alto Networks stock traded up $16.70 during mid-day trading on Thursday, hitting $549.72. The company’s stock had a trading volume of 1,248,557 shares, compared to its average volume of 1,171,238. The firm’s 50 day moving average is $500.38 and its 200 day moving average is $427.89. The company has a market cap of $53.88 billion, a PE ratio of -106.12 and a beta of 1.35. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.91 and a quick ratio of 0.91. Palo Alto Networks has a 52-week low of $289.77 and a 52-week high of $559.54.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Thursday, November 18th. The network technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.07. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Palo Alto Networks had a negative return on equity of 17.08% and a negative net margin of 11.72%. The business’s revenue for the quarter was up 31.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) EPS. As a group, analysts forecast that Palo Alto Networks will post -0.47 EPS for the current year.

PANW has been the subject of a number of recent research reports. Wedbush raised their price target on Palo Alto Networks from $600.00 to $630.00 and gave the stock an outperform rating in a research note on Friday, November 19th. Barclays raised their price target on Palo Alto Networks from $535.00 to $615.00 and gave the stock an overweight rating in a research note on Tuesday, September 14th. TheStreet downgraded Palo Alto Networks from a c rating to a d rating in a research note on Thursday, November 18th. BMO Capital Markets raised their price target on Palo Alto Networks from $560.00 to $615.00 and gave the stock an outperform rating in a research note on Friday, November 19th. Finally, Jefferies Financial Group raised their price target on Palo Alto Networks from $550.00 to $615.00 and gave the stock a buy rating in a research note on Wednesday, November 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $576.00.

In other Palo Alto Networks news, Director John P. Key sold 1,000 shares of Palo Alto Networks stock in a transaction on Monday, August 30th. The stock was sold at an average price of $457.87, for a total value of $457,870.00. Following the completion of the transaction, the director now owns 4,521 shares in the company, valued at approximately $2,070,030.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 9,500 shares of Palo Alto Networks stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $526.31, for a total value of $4,999,945.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,870 shares of company stock valued at $28,176,363 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

About Palo Alto Networks

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. 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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