Palo Alto Networks, Inc. (PANW) Expected to Post Quarterly Sales of $489.09 Million
Analysts predict that Palo Alto Networks, Inc. (NYSE:PANW) will announce $489.09 million in sales for the current quarter, according to Zacks. Thirteen analysts have issued estimates for Palo Alto Networks’ earnings. The highest sales estimate is $501.40 million and the lowest is $482.04 million. Palo Alto Networks posted sales of $398.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.9%. The business is scheduled to announce its next quarterly earnings report on Monday, November 20th.
According to Zacks, analysts expect that Palo Alto Networks will report full year sales of $489.09 million for the current financial year, with estimates ranging from $2.13 billion to $2.19 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.58 billion per share, with estimates ranging from $2.50 billion to $2.66 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Palo Alto Networks.
Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The firm had revenue of $509.00 million for the quarter, compared to analyst estimates of $487.53 million. During the same period in the previous year, the company earned $0.50 EPS. Palo Alto Networks’s revenue was up 27.0% compared to the same quarter last year.
Several equities research analysts have recently commented on the company. BidaskClub raised Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Rosenblatt Securities reissued a “buy” rating and set a $160.00 price target on shares of Palo Alto Networks in a research note on Friday, September 1st. J P Morgan Chase & Co reissued a “neutral” rating and set a $168.00 price target (up previously from $155.00) on shares of Palo Alto Networks in a research note on Sunday, September 3rd. Stifel Nicolaus reissued a “buy” rating and set a $180.00 price target on shares of Palo Alto Networks in a research note on Tuesday, September 5th. Finally, William Blair reaffirmed a “market perform” rating on shares of Palo Alto Networks in a research note on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-one have given a buy rating to the company. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus price target of $160.33.
ILLEGAL ACTIVITY NOTICE: “Palo Alto Networks, Inc. (PANW) Expected to Post Quarterly Sales of $489.09 Million” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/17/palo-alto-networks-inc-panw-expected-to-post-quarterly-sales-of-489-09-million-2.html.
Palo Alto Networks (PANW) opened at 149.01 on Tuesday. The firm’s market cap is $13.69 billion. The firm’s 50 day moving average price is $142.58 and its 200-day moving average price is $130.01. Palo Alto Networks has a one year low of $107.31 and a one year high of $165.69.
In other Palo Alto Networks news, Director Stanley J. Meresman sold 2,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $151.01, for a total transaction of $302,020.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Mark Anderson sold 44,429 shares of Palo Alto Networks stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the sale, the president now directly owns 176,290 shares of the company’s stock, valued at approximately $25,227,099. The disclosure for this sale can be found here. Insiders sold a total of 254,744 shares of company stock valued at $37,804,516 in the last ninety days. Company insiders own 4.80% of the company’s stock.
Several large investors have recently modified their holdings of the business. Bangor Savings Bank acquired a new stake in shares of Palo Alto Networks during the 2nd quarter valued at $1,342,000. Cypress Wealth Advisors LLC boosted its stake in shares of Palo Alto Networks by 3.7% during the 2nd quarter. Cypress Wealth Advisors LLC now owns 3,154 shares of the network technology company’s stock valued at $422,000 after buying an additional 113 shares during the period. National Asset Management Inc. boosted its stake in shares of Palo Alto Networks by 4.7% during the 2nd quarter. National Asset Management Inc. now owns 2,819 shares of the network technology company’s stock valued at $378,000 after buying an additional 127 shares during the period. Grandeur Peak Global Advisors LLC boosted its stake in shares of Palo Alto Networks by 1.3% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 7,975 shares of the network technology company’s stock valued at $1,067,000 after buying an additional 100 shares during the period. Finally, Scotia Capital Inc. acquired a new stake in shares of Palo Alto Networks during the 2nd quarter valued at $213,000. 76.96% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Palo Alto Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.