Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) – Equities research analysts at KeyCorp increased their Q4 2023 earnings per share estimates for shares of Palo Alto Networks in a report released on Thursday, September 15th. KeyCorp analyst M. Turits now anticipates that the network technology company will earn $0.35 per share for the quarter, up from their prior estimate of $0.35. KeyCorp has a “Overweight” rating and a $226.67 price target on the stock. The consensus estimate for Palo Alto Networks’ current full-year earnings is $0.70 per share. KeyCorp also issued estimates for Palo Alto Networks’ Q1 2024 earnings at $0.30 EPS and FY2025 earnings at $2.13 EPS.
Palo Alto Networks (NASDAQ:PANW – Get Rating) last issued its quarterly earnings data on Monday, August 22nd. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. Palo Alto Networks had a negative return on equity of 42.61% and a negative net margin of 4.85%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year.
Palo Alto Networks Price Performance
Palo Alto Networks stock opened at $174.09 on Monday. Palo Alto Networks has a one year low of $140.52 and a one year high of $213.63. The business has a fifty day moving average price of $181.92 and a 200-day moving average price of $181.03. The firm has a market capitalization of $52.09 billion, a P/E ratio of -192.01, a PEG ratio of 7.84 and a beta of 1.13.
Insider Buying and Selling at Palo Alto Networks
In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $501.62, for a total value of $6,019,440.00. Following the completion of the transaction, the executive vice president now owns 684,273 shares of the company’s stock, valued at $343,245,022.26. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Nikesh Arora sold 12,500 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $554.56, for a total transaction of $6,932,000.00. Following the sale, the chief executive officer now owns 462,514 shares in the company, valued at $256,491,763.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $501.62, for a total transaction of $6,019,440.00. Following the sale, the executive vice president now owns 684,273 shares in the company, valued at approximately $343,245,022.26. The disclosure for this sale can be found here. Insiders sold a total of 46,034 shares of company stock worth $23,954,654 over the last three months. Corporate insiders own 2.20% of the company’s stock.
Institutional Trading of Palo Alto Networks
Several institutional investors have recently modified their holdings of PANW. Avondale Wealth Management acquired a new stake in shares of Palo Alto Networks in the second quarter valued at about $25,000. Adirondack Trust Co. boosted its position in Palo Alto Networks by 246.7% during the second quarter. Adirondack Trust Co. now owns 52 shares of the network technology company’s stock worth $26,000 after acquiring an additional 37 shares during the last quarter. Worth Asset Management LLC purchased a new position in Palo Alto Networks during the first quarter worth about $26,000. Quent Capital LLC purchased a new position in Palo Alto Networks during the second quarter worth about $27,000. Finally, Ronald Blue Trust Inc. purchased a new position in Palo Alto Networks during the second quarter worth about $28,000. Institutional investors and hedge funds own 86.17% of the company’s stock.
About Palo Alto Networks
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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