Palo Alto Networks (NYSE:PANW) Issues Q2 2022 Earnings Guidance

Palo Alto Networks (NYSE:PANW) updated its second quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $1.630-$1.660 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.640. The company issued revenue guidance of $1.51 billion-$1.53 billion, compared to the consensus revenue estimate of $1.27 billion.Palo Alto Networks also updated its FY 2022 guidance to $7.150-$7.250 EPS.

A number of brokerages recently issued reports on PANW. BTIG Research increased their price target on Palo Alto Networks from $555.00 to $610.00 and gave the stock a buy rating in a research report on Friday, November 19th. Royal Bank of Canada upped their target price on Palo Alto Networks from $560.00 to $590.00 and gave the stock an outperform rating in a research note on Monday, November 15th. Oppenheimer upped their target price on Palo Alto Networks from $550.00 to $600.00 and gave the stock an outperform rating in a research note on Friday, November 19th. Credit Suisse Group restated an outperform rating and set a $625.00 target price on shares of Palo Alto Networks in a research note on Tuesday, November 16th. Finally, Truist upped their target price on Palo Alto Networks from $525.00 to $600.00 and gave the stock a buy rating in a research note on Friday, November 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $576.00.

Palo Alto Networks stock traded up $16.70 during trading hours on Thursday, reaching $549.72. 1,248,557 shares of the company’s stock were exchanged, compared to its average volume of 1,171,238. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.63. The firm’s 50 day simple moving average is $500.38 and its 200 day simple moving average is $427.89. Palo Alto Networks has a twelve month low of $289.77 and a twelve month high of $559.54. The firm has a market capitalization of $53.88 billion, a PE ratio of -106.12 and a beta of 1.35.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, November 18th. The network technology company reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.07. Palo Alto Networks had a negative return on equity of 17.08% and a negative net margin of 11.72%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted ($0.04) EPS. The business’s revenue was up 31.9% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks will post -0.47 EPS for the current year.

In other news, Director John P. Key sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $457.87, for a total value of $457,870.00. Following the completion of the sale, the director now directly owns 4,521 shares in the company, valued at approximately $2,070,030.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 6,870 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $462.48, for a total value of $3,177,237.60. Following the completion of the sale, the executive vice president now owns 265,453 shares of the company’s stock, valued at $122,766,703.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,870 shares of company stock valued at $28,176,363. Company insiders own 2.20% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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Earnings History and Estimates for Palo Alto Networks (NYSE:PANW)

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