$1.05 EPS Expected for Palo Alto Networks Inc (PANW) This Quarter

Equities research analysts expect that Palo Alto Networks Inc (NYSE:PANW) will report $1.05 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Twelve analysts have issued estimates for Palo Alto Networks’ earnings, with estimates ranging from $1.04 to $1.07. Palo Alto Networks reported earnings of $0.74 per share in the same quarter last year, which indicates a positive year over year growth rate of 41.9%. The business is expected to report its next earnings report on Monday, November 19th.

According to Zacks, analysts expect that Palo Alto Networks will report full year earnings of $5.03 per share for the current financial year, with EPS estimates ranging from $4.65 to $5.40. For the next year, analysts forecast that the business will report earnings of $6.10 per share, with EPS estimates ranging from $5.62 to $6.91. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, September 6th. The network technology company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $658.10 million during the quarter, compared to analysts’ expectations of $634.14 million. Palo Alto Networks had a negative return on equity of 4.12% and a negative net margin of 6.51%. The business’s revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS.

A number of analysts have weighed in on the company. Morgan Stanley increased their price objective on Palo Alto Networks to $276.00 and gave the stock a “top pick” rating in a research report on Monday, October 8th. Zacks Investment Research cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. ValuEngine raised Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 3rd. Argus increased their price objective on Palo Alto Networks to $275.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Finally, Oppenheimer increased their price objective on Palo Alto Networks from $235.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, September 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. Palo Alto Networks currently has a consensus rating of “Buy” and an average target price of $239.51.

In related news, EVP Nir Zuk sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $199.94, for a total value of $5,998,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stanley J. Meresman sold 1,979 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $234.22, for a total value of $463,521.38. Following the completion of the transaction, the director now directly owns 5,716 shares of the company’s stock, valued at $1,338,801.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,275 shares of company stock valued at $64,322,762. Company insiders own 4.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chesley Taft & Associates LLC increased its stake in Palo Alto Networks by 7.2% in the 3rd quarter. Chesley Taft & Associates LLC now owns 25,744 shares of the network technology company’s stock valued at $5,799,000 after purchasing an additional 1,740 shares in the last quarter. Montecito Bank & Trust increased its stake in Palo Alto Networks by 74.2% in the 3rd quarter. Montecito Bank & Trust now owns 3,287 shares of the network technology company’s stock valued at $740,000 after purchasing an additional 1,400 shares in the last quarter. Windward Capital Management Co. CA purchased a new position in Palo Alto Networks in the 3rd quarter valued at approximately $209,000. Advisors Capital Management LLC increased its stake in Palo Alto Networks by 1.3% in the 3rd quarter. Advisors Capital Management LLC now owns 19,705 shares of the network technology company’s stock valued at $4,439,000 after purchasing an additional 246 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in Palo Alto Networks by 12.9% in the 3rd quarter. DNB Asset Management AS now owns 11,966 shares of the network technology company’s stock valued at $2,695,000 after purchasing an additional 1,366 shares in the last quarter. 80.65% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PANW traded down $1.57 during trading hours on Monday, reaching $210.38. The stock had a trading volume of 1,598 shares, compared to its average volume of 1,365,156. The stock has a market cap of $21.13 billion, a PE ratio of -378.27, a price-to-earnings-growth ratio of 15.82 and a beta of 0.88. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.42. Palo Alto Networks has a fifty-two week low of $135.85 and a fifty-two week high of $239.50.

About Palo Alto Networks

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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