Wall Street analysts forecast that Palo Alto Networks, Inc. (NYSE:PANW) will report $0.69 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Palo Alto Networks’ earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.76. Palo Alto Networks reported earnings per share of $0.55 in the same quarter last year, which indicates a positive year over year growth rate of 25.5%. The business is scheduled to issue its next quarterly earnings results on Monday, November 20th.

According to Zacks, analysts expect that Palo Alto Networks will report full year earnings of $3.27 per share for the current financial year, with EPS estimates ranging from $2.55 to $3.50. For the next fiscal year, analysts expect that the company will report earnings of $4.17 per share, with EPS estimates ranging from $3.82 to $4.49. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by $0.92. Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.08%. The firm had revenue of $509 million during the quarter, compared to analysts’ expectations of $487.53 million. During the same period in the prior year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis.

PANW has been the subject of several research analyst reports. Jefferies Group LLC raised Palo Alto Networks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $150.00 in a research note on Friday, May 19th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $173.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 23rd. Zacks Investment Research raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research note on Tuesday, May 23rd. CIBC reissued an “outperform” rating and issued a $173.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 24th. Finally, Cowen and Company reissued an “outperform” rating and issued a $150.00 target price on shares of Palo Alto Networks in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $157.91.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the sale, the director now owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. WFG Advisors LP lifted its stake in Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock worth $101,000 after purchasing an additional 50 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Palo Alto Networks by 31.9% during the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after acquiring an additional 227 shares in the last quarter. Sun Life Financial INC raised its stake in shares of Palo Alto Networks by 785.0% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock valued at $134,000 after acquiring an additional 887 shares in the last quarter. First Interstate Bank raised its stake in shares of Palo Alto Networks by 130.7% during the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock valued at $155,000 after acquiring an additional 779 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Palo Alto Networks by 30.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after acquiring an additional 322 shares in the last quarter. 77.05% of the stock is owned by institutional investors and hedge funds.

Shares of Palo Alto Networks (NYSE PANW) opened at 143.67 on Friday. The firm has a 50 day moving average of $133.84 and a 200-day moving average of $126.10. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $165.69. The stock’s market capitalization is $13.19 billion.

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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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