$703.44 Million in Sales Expected for Palo Alto Networks Inc (PANW) This Quarter

Wall Street brokerages expect that Palo Alto Networks Inc (NYSE:PANW) will report sales of $703.44 million for the current fiscal quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Palo Alto Networks’ earnings. The highest sales estimate is $717.57 million and the lowest is $695.20 million. Palo Alto Networks reported sales of $567.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24%. The firm is expected to report its next earnings report after the market closes on Wednesday, May 29th.

According to Zacks, analysts expect that Palo Alto Networks will report full-year sales of $2.87 billion for the current year, with estimates ranging from $2.83 billion to $2.89 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.43 billion, with estimates ranging from $3.35 billion to $3.55 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Tuesday, February 26th. The network technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.05 by $0.20. Palo Alto Networks had a negative net margin of 3.47% and a positive return on equity of 4.69%. The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. During the same period in the previous year, the business posted $0.97 EPS. The business’s quarterly revenue was up 30.3% compared to the same quarter last year.

Several research firms have recently weighed in on PANW. Dougherty & Co reaffirmed a “buy” rating and set a $300.00 target price (up from $260.00) on shares of Palo Alto Networks in a report on Wednesday, February 27th. Oppenheimer boosted their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. Morgan Stanley upped their target price on shares of Palo Alto Networks from $266.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, February 27th. KeyCorp upped their target price on shares of Palo Alto Networks from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, February 27th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $280.00 target price (up previously from $235.00) on shares of Palo Alto Networks in a report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $268.75.

NYSE PANW traded down $2.04 on Monday, hitting $224.81. 1,301,213 shares of the company’s stock traded hands, compared to its average volume of 1,257,282. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.31. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of -408.75, a PEG ratio of 10.04 and a beta of 0.84. Palo Alto Networks has a 1-year low of $160.08 and a 1-year high of $260.63.

In other news, Director Carl M. Eschenbach sold 3,385 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $241.90, for a total transaction of $818,831.50. Following the transaction, the director now owns 4,359 shares of the company’s stock, valued at approximately $1,054,442.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark D. Mclaughlin sold 950 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $250.05, for a total transaction of $237,547.50. Following the transaction, the director now directly owns 206,171 shares in the company, valued at approximately $51,553,058.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 242,844 shares of company stock worth $58,586,545. Corporate insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alpha Omega Wealth Management LLC acquired a new position in Palo Alto Networks in the first quarter valued at about $26,000. Manchester Capital Management LLC acquired a new position in Palo Alto Networks during the first quarter valued at $26,000. Financial Advocates Investment Management raised its position in Palo Alto Networks by 65.2% during the fourth quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock valued at $43,000 after buying an additional 45 shares during the period. C J Advisory Inc acquired a new position in Palo Alto Networks during the first quarter valued at $30,000. Finally, Cable Hill Partners LLC raised its position in Palo Alto Networks by 226.1% during the first quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock valued at $37,000 after buying an additional 104 shares during the period. 79.71% of the stock is currently owned by institutional investors.

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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