Palo Alto Networks (NASDAQ:PANW) Issues FY 2022 Earnings Guidance

Palo Alto Networks (NASDAQ:PANWGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $7.43-$7.46 for the period, compared to the consensus EPS estimate of $7.29. The company issued revenue guidance of $5.48 billion-$5.50 billion, compared to the consensus revenue estimate of $5.46 billion.Palo Alto Networks also updated its Q4 2022 guidance to $2.26-$2.29 EPS.

Shares of NASDAQ:PANW opened at $524.88 on Thursday. The company has a market capitalization of $52.30 billion, a price-to-earnings ratio of -131.88 and a beta of 1.29. Palo Alto Networks has a 52 week low of $351.00 and a 52 week high of $640.90. The firm has a 50 day moving average of $547.13 and a 200 day moving average of $540.21.

Palo Alto Networks (NASDAQ:PANWGet Rating) last issued its quarterly earnings results on Thursday, May 19th. The network technology company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.21). Palo Alto Networks had a negative return on equity of 57.50% and a negative net margin of 7.54%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company posted ($0.62) earnings per share. The business’s revenue for the quarter was up 29.1% on a year-over-year basis. As a group, equities analysts anticipate that Palo Alto Networks will post -0.73 earnings per share for the current fiscal year.

PANW has been the subject of several research analyst reports. Citigroup upped their price target on shares of Palo Alto Networks from $600.00 to $610.00 and gave the stock a buy rating in a research report on Friday, May 20th. Mizuho cut their price target on shares of Palo Alto Networks from $625.00 to $600.00 and set a buy rating for the company in a report on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Palo Alto Networks from $605.00 to $587.00 in a research report on Tuesday, May 17th. Morgan Stanley increased their price objective on shares of Palo Alto Networks from $670.00 to $823.00 and gave the stock an overweight rating in a research report on Monday, April 25th. Finally, Loop Capital decreased their price target on shares of Palo Alto Networks from $530.00 to $510.00 and set a hold rating for the company in a research report on Wednesday, February 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and thirty have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $626.48.

In other news, EVP Lee Klarich sold 4,001 shares of the stock in a transaction on Friday, March 11th. The shares were sold at an average price of $559.22, for a total value of $2,237,439.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 3,125 shares of the company’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $500.52, for a total transaction of $1,564,125.00. Following the completion of the transaction, the chief executive officer now owns 489,791 shares of the company’s stock, valued at $245,150,191.32. The disclosure for this sale can be found here. Insiders have sold 87,608 shares of company stock valued at $48,963,405 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in PANW. Worth Asset Management LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter worth about $26,000. Covestor Ltd increased its stake in Palo Alto Networks by 61.8% during the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after buying an additional 21 shares during the period. High Net Worth Advisory Group LLC acquired a new position in Palo Alto Networks during the 1st quarter valued at about $71,000. Centaurus Financial Inc. acquired a new position in Palo Alto Networks during the 1st quarter valued at about $103,000. Finally, Parkside Financial Bank & Trust increased its stake in Palo Alto Networks by 50.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the network technology company’s stock valued at $106,000 after buying an additional 57 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Company Profile (Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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 and Estimates for Palo Alto Networks (NASDAQ:PANW)

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