Analysts predict that Palo Alto Networks, Inc. (NYSE:PANW) will post $486.17 million in sales for the current quarter, Zacks reports. Thirteen analysts have made estimates for Palo Alto Networks’ earnings. The highest sales estimate is $489.50 million and the lowest is $484.20 million. Palo Alto Networks posted sales of $400.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.3%. The company is scheduled to issue its next earnings results after the market closes on Thursday, August 31st.

On average, analysts expect that Palo Alto Networks will report full-year sales of $486.17 million for the current year. For the next financial year, analysts expect that the company will post sales of $2.12 billion per share, with estimates ranging from $2.03 billion to $2.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.06. The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS.

Several research firms have recently commented on PANW. UBS AG restated a “neutral” rating and set a $140.00 price objective (up previously from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. Evercore ISI set a $140.00 price objective on Palo Alto Networks and gave the company a “hold” rating in a report on Saturday, June 17th. ValuEngine upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. BidaskClub upgraded Palo Alto Networks from a “strong sell” rating to a “sell” rating in a report on Thursday, August 17th. Finally, Imperial Capital restated an “outperform” rating and set a $137.00 price objective on shares of Palo Alto Networks in a report on Friday. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty-eight have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $150.94.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $137.97, for a total value of $4,139,100.00. Following the transaction, the director now directly owns 271,645 shares in the company, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Glen Harbor Capital Management LLC raised its position in shares of Palo Alto Networks by 94.8% in the first quarter. Glen Harbor Capital Management LLC now owns 15,876 shares of the network technology company’s stock valued at $1,789,000 after buying an additional 7,728 shares during the period. B & T Capital Management DBA Alpha Capital Management raised its position in shares of Palo Alto Networks by 87.7% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 10,030 shares of the network technology company’s stock valued at $1,130,000 after buying an additional 4,687 shares during the period. ProShare Advisors LLC raised its position in shares of Palo Alto Networks by 10.8% in the first quarter. ProShare Advisors LLC now owns 2,172 shares of the network technology company’s stock valued at $245,000 after buying an additional 211 shares during the period. Fisher Asset Management LLC raised its position in shares of Palo Alto Networks by 2.2% in the first quarter. Fisher Asset Management LLC now owns 7,634 shares of the network technology company’s stock valued at $860,000 after buying an additional 165 shares during the period. Finally, Waldron LP raised its position in shares of Palo Alto Networks by 105.2% in the first quarter. Waldron LP now owns 12,850 shares of the network technology company’s stock valued at $1,749,000 after buying an additional 6,587 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.

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Shares of Palo Alto Networks (NYSE:PANW) opened at 131.07 on Tuesday. Palo Alto Networks has a 52 week low of $107.31 and a 52 week high of $165.69. The company’s market capitalization is $12.04 billion. The stock has a 50 day moving average price of $134.50 and a 200-day moving average price of $127.47.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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