Palo Alto Networks (NYSE:PANW) Releases Q3 Earnings Guidance


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Palo Alto Networks (NYSE:PANW) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $1.27-1.29 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.29. The company issued revenue guidance of $1.05-1.06 billion, compared to the consensus revenue estimate of $1.05 billion.Palo Alto Networks also updated its FY 2021
After-Hours guidance to 5.80-5.90 EPS.

Several research analysts have recently commented on the stock. Northland Securities raised their price objective on shares of Palo Alto Networks from $350.00 to $410.00 and gave the company an outperform rating in a research note on Wednesday, December 23rd. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $297.00 to $317.00 and gave the company a market perform rating in a research note on Tuesday, November 17th. Argus raised their price objective on shares of Palo Alto Networks from $334.00 to $410.00 and gave the company a buy rating in a research note on Thursday, January 7th. KeyCorp raised their price objective on shares of Palo Alto Networks from $391.00 to $420.00 and gave the company an overweight rating in a research note on Wednesday, January 20th. Finally, Oppenheimer reaffirmed an outperform rating and issued a $305.00 target price on shares of Palo Alto Networks in a report on Thursday, February 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $353.65.

NYSE:PANW traded down $12.55 during midday trading on Monday, reaching $384.35. The stock had a trading volume of 2,051,214 shares, compared to its average volume of 1,112,484. The firm has a fifty day simple moving average of $372.13 and a two-hundred day simple moving average of $296.77. Palo Alto Networks has a 12-month low of $125.47 and a 12-month high of $403.00. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 4.18. The stock has a market cap of $36.72 billion, a P/E ratio of -123.98 and a beta of 1.50.

In other Palo Alto Networks news, President Amit K. Singh sold 1,378 shares of the business’s stock in a transaction on Friday, December 4th. The shares were sold at an average price of $302.86, for a total transaction of $417,341.08. Following the sale, the president now directly owns 132,539 shares in the company, valued at approximately $40,140,761.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $293.89, for a total transaction of $3,526,680.00. Over the last quarter, insiders sold 209,195 shares of company stock worth $68,692,035. 2.30% of the stock is currently owned by insiders.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software 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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Earnings History and Estimates for Palo Alto Networks (NYSE:PANW)

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