Palo Alto Networks (PANW) Set to Announce Quarterly Earnings on Wednesday

Palo Alto Networks (NASDAQ:PANW) is scheduled to announce its earnings results after the market closes on Wednesday, November 20th. Analysts expect the company to announce earnings of $1.48 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts expect Palo Alto Networks to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Palo Alto Networks Trading Down 1.9 %

PANW stock opened at $387.00 on Monday. The firm’s 50-day moving average is $359.86 and its two-hundred day moving average is $336.73. The company has a market capitalization of $126.01 billion, a price-to-earnings ratio of 53.38, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. Palo Alto Networks has a 52 week low of $234.15 and a 52 week high of $408.53.

Analysts Set New Price Targets

A number of research firms have weighed in on PANW. Evercore ISI upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. KeyCorp raised their target price on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. DA Davidson lifted their target price on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. OTR Global reissued a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Finally, BMO Capital Markets lifted their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $384.76.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. This trade represents a 3.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,252 shares of company stock valued at $89,041,637 over the last three months. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.