Palo Alto Networks, Inc. (PANW) Expected to Post Earnings of -$0.20 Per Share

Analysts forecast that Palo Alto Networks, Inc. (NYSE:PANW) will announce earnings per share (EPS) of ($0.20) for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for Palo Alto Networks’ earnings, with estimates ranging from ($0.24) to ($0.16). Palo Alto Networks reported earnings of ($0.51) per share in the same quarter last year, which indicates a positive year over year growth rate of 60.8%. The business is expected to issue its next quarterly earnings report on Tuesday, August 29th.

According to Zacks, analysts expect that Palo Alto Networks will report full year earnings of ($1.11) per share for the current fiscal year, with EPS estimates ranging from ($1.14) to ($1.08). For the next financial year, analysts anticipate that the firm will post earnings of ($0.61) per share, with EPS estimates ranging from ($0.98) to ($0.10). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The business had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. During the same quarter in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 24.9% on a year-over-year basis.

A number of research firms recently issued reports on PANW. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $173.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 23rd. Wells Fargo & Company restated an “outperform” rating and issued a $185.00 target price (down from $195.00) on shares of Palo Alto Networks in a report on Friday, March 3rd. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “strong-buy” rating and set a $178.00 target price for the company in a report on Tuesday, February 21st. TheStreet downgraded shares of Palo Alto Networks from a “c-” rating to a “d+” rating in a report on Thursday, March 23rd. Finally, BMO Capital Markets boosted their target price on shares of Palo Alto Networks from $150.00 to $160.00 and gave the company a “market perform” rating in a report on Monday, February 27th. Nineteen equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Palo Alto Networks presently has a consensus rating of “Buy” and an average price target of $150.53.

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Palo Alto Networks (NYSE PANW) traded down 0.34% during mid-day trading on Wednesday, hitting $131.59. 1,273,571 shares of the stock traded hands. Palo Alto Networks has a 12-month low of $107.31 and a 12-month high of $165.69. The firm’s 50-day moving average is $122.78 and its 200-day moving average is $127.20. The company’s market cap is $12.08 billion.

Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth $6,824,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Palo Alto Networks by 1.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 126,009 shares of the network technology company’s stock worth $15,757,000 after buying an additional 1,190 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Palo Alto Networks by 15.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,815 shares of the network technology company’s stock worth $352,000 after buying an additional 380 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Palo Alto Networks by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,110 shares of the network technology company’s stock worth $10,393,000 after buying an additional 4,974 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Palo Alto Networks by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 93,275 shares of the network technology company’s stock worth $11,664,000 after buying an additional 18,165 shares during the period. 80.60% of the stock is currently owned by institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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