Palo Alto Networks (PANW) Scheduled to Post Quarterly Earnings on Tuesday

Palo Alto Networks (NASDAQ:PANWGet Free Report) will post its quarterly earnings results after the market closes on Tuesday, February 20th. Analysts expect Palo Alto Networks to post earnings of $1.30 per share for the quarter. Palo Alto Networks has set its Q2 guidance at $1.29-1.31 EPS and its FY24 guidance at $5.40-5.53 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings results on Wednesday, November 15th. The network technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.84 billion. Palo Alto Networks had a net margin of 8.52% and a return on equity of 48.58%. On average, analysts expect Palo Alto Networks to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $371.97 on Tuesday. The stock has a market cap of $117.28 billion, a price-to-earnings ratio of 211.35, a price-to-earnings-growth ratio of 5.18 and a beta of 1.26. The firm has a 50-day moving average of $318.93 and a two-hundred day moving average of $270.25. Palo Alto Networks has a 1 year low of $164.41 and a 1 year high of $380.84.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Donovan sold 8,100 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $330.04, for a total value of $2,673,324.00. Following the sale, the director now directly owns 30,352 shares in the company, valued at $10,017,374.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 419,426 shares of company stock valued at $119,134,439. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Palo Alto Networks

Large investors have recently made changes to their positions in the company. Covestor Ltd grew its position in Palo Alto Networks by 61.8% during the first 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. Worth Asset Management LLC acquired a new stake in shares of Palo Alto Networks during the 1st quarter valued at about $26,000. Salem Investment Counselors Inc. grew its position in shares of Palo Alto Networks by 1,071.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock valued at $41,000 after acquiring an additional 75 shares during the period. Pin Oak Investment Advisors Inc. purchased a new position in shares of Palo Alto Networks in the 2nd quarter valued at about $28,000. Finally, High Net Worth Advisory Group LLC purchased a new position in Palo Alto Networks during the first quarter worth approximately $71,000. 85.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PANW. Cantor Fitzgerald increased their price objective on Palo Alto Networks from $280.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday. BMO Capital Markets decreased their price objective on Palo Alto Networks from $300.00 to $283.00 and set an “outperform” rating for the company in a report on Thursday, November 16th. Raymond James cut shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Susquehanna started coverage on shares of Palo Alto Networks in a report on Friday, December 15th. They issued a “positive” rating for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $280.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, November 14th. Six investment analysts have rated the stock with a hold rating and thirty-five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $292.23.

Check Out Our Latest Stock Report on Palo Alto Networks

About Palo Alto Networks

(Get Free Report)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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Earnings History for Palo Alto Networks (NASDAQ:PANW)

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