Palo Alto Networks (NYSE:PANW) updated its fourth quarter 2020
After-Hours earnings guidance on Thursday. The company provided earnings per share guidance of 1.37-1.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.30. The company issued revenue guidance of $1.19-1.21 billion, compared to the consensus revenue estimate of $915.91 million.Palo Alto Networks also updated its FY 2020
After-Hours guidance to 4.78-4.81 EPS.
A number of equities analysts recently commented on the stock. SunTrust Banks boosted their price objective on shares of Palo Alto Networks from $220.00 to $250.00 and gave the stock a buy rating in a research note on Monday. Mizuho reduced their price objective on shares of Palo Alto Networks from $245.00 to $215.00 and set a buy rating for the company in a research note on Wednesday, April 1st. Royal Bank of Canada boosted their price objective on shares of Palo Alto Networks from $175.00 to $225.00 and gave the stock a sector perform rating in a research note on Tuesday. Northland Securities raised shares of Palo Alto Networks from a market perform rating to an outperform rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered shares of Palo Alto Networks from an overweight rating to a neutral rating and cut their price target for the stock from $284.00 to $236.00 in a report on Tuesday, February 25th. Twelve analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of Buy and a consensus price target of $241.36.
NYSE:PANW traded down $4.98 during mid-day trading on Thursday, hitting $229.50. The company’s stock had a trading volume of 2,453,873 shares, compared to its average volume of 1,495,052. Palo Alto Networks has a 1 year low of $125.47 and a 1 year high of $251.10. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market cap of $22.65 billion, a price-to-earnings ratio of -128.07 and a beta of 1.14. The business’s fifty day moving average is $193.21 and its two-hundred day moving average is $214.19.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, February 24th. The network technology company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. The company had revenue of $816.70 million for the quarter, compared to analyst estimates of $842.13 million. Palo Alto Networks had a negative net margin of 5.58% and a negative return on equity of 2.19%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.51 earnings per share. Analysts anticipate that Palo Alto Networks will post -0.77 EPS for the current fiscal year.
In related news, Director John Donovan purchased 8,102 shares of Palo Alto Networks stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $185.35 per share, for a total transaction of $1,501,705.70. Following the transaction, the director now directly owns 11,222 shares in the company, valued at $2,079,997.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $194.20, for a total transaction of $2,330,400.00. Following the transaction, the executive vice president now owns 986,875 shares of the company’s stock, valued at approximately $191,651,125. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
About Palo Alto Networks
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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