Palo Alto Networks Inc (PANW) Issues Q3 Earnings Guidance
Palo Alto Networks Inc (NASDAQ:PANW) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $0.10-0.11 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.11, Stock Ratings Network.com reports. The company issued revenue guidance of $143-147 million, compared to the consensus revenue estimate of $141.84 million.
Shares of Palo Alto Networks Inc (NASDAQ:PANW) opened at 73.62 on Monday. Palo Alto Networks Inc has a 52-week low of $39.08 and a 52-week high of $74.28. The stock has a 50-day moving average of $63.98 and a 200-day moving average of $51.49. The company’s market cap is $5.337 billion.
Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $139.62 million. On average, analysts predict that Palo Alto Networks Inc will post $0.42 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on PANW shares. Analysts at Pacific Crest raised their price target on shares of Palo Alto Networks from $65.00 to $75.00 in a research note on Tuesday, February 4th. They now have an outperform rating on the stock. On a related note, analysts at Wells Fargo & Co. upgraded shares of Palo Alto Networks from a market perform rating to an outperform rating in a research note on Monday, February 3rd. They now have a $78.00 price target on the stock, up previously from $54.50. Finally, analysts at Deutsche Bank initiated coverage on shares of Palo Alto Networks in a research note on Wednesday, January 22nd. They set a buy rating and a $75.00 price target on the stock. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $60.52.
In other Palo Alto Networks news, CMO Rene Bonvanie unloaded 50,000 shares of Palo Alto Networks stock on the open market in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $72.00, for a total transaction of $3,600,000.00. Following the sale, the chief marketing officer now directly owns 226,578 shares of the company’s stock, valued at approximately $16,313,616. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.
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