Palo Alto Networks (NYSE:PANW) Issues Earnings Results, Beats Estimates By $1.54 EPS

Palo Alto Networks (NYSE:PANW) posted its quarterly earnings data on Thursday. The network technology company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $1.54, MarketWatch Earnings reports. The company had revenue of $869.40 million during the quarter, compared to analyst estimates of $831.52 million. Palo Alto Networks had a negative return on equity of 2.19% and a negative net margin of 5.58%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned $1.31 EPS.

Palo Alto Networks stock traded up $3.38 during midday trading on Friday, reaching $232.88. The company had a trading volume of 1,562,031 shares, compared to its average volume of 1,247,325. The company has a market capitalization of $23.38 billion, a P/E ratio of -129.37 and a beta of 1.14. Palo Alto Networks has a 12-month low of $125.47 and a 12-month high of $251.10. The firm’s fifty day simple moving average is $194.57 and its 200-day simple moving average is $214.23. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78.

In related news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $194.20, for a total value of $2,330,400.00. Following the transaction, the executive vice president now directly owns 986,875 shares of the company’s stock, valued at approximately $191,651,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Donovan purchased 8,127 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $184.62 per share, for a total transaction of $1,500,406.74. Following the completion of the purchase, the director now directly owns 11,222 shares in the company, valued at approximately $2,071,805.64. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.

A number of analysts have commented on the company. BMO Capital Markets lifted their target price on Palo Alto Networks from $220.00 to $230.00 and gave the stock a “market perform” rating in a report on Monday. Piper Sandler raised their price target on Palo Alto Networks from $200.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. downgraded Palo Alto Networks from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $284.00 to $236.00 in a research report on Tuesday, February 25th. BTIG Research assumed coverage on Palo Alto Networks in a research report on Friday, March 27th. They set a “neutral” rating on the stock. Finally, Morgan Stanley boosted their price objective on Palo Alto Networks from $200.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday. Twelve research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $253.76.

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 for Palo Alto Networks (NYSE:PANW)

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