Analysts Anticipate Palo Alto Networks Inc (NYSE:PANW) Will Announce Quarterly Sales of $803.06 Million

Equities analysts forecast that Palo Alto Networks Inc (NYSE:PANW) will announce $803.06 million in sales for the current quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for Palo Alto Networks’ earnings. The lowest sales estimate is $798.60 million and the highest is $817.21 million. Palo Alto Networks reported sales of $658.10 million in the same quarter last year, which indicates a positive year over year growth rate of 22%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, September 4th.

On average, analysts expect that Palo Alto Networks will report full-year sales of $2.90 billion for the current financial year, with estimates ranging from $2.88 billion to $2.91 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.44 billion, with estimates ranging from $3.34 billion to $3.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Wednesday, May 29th. The network technology company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.06). The company had revenue of $726.60 million during the quarter, compared to analysts’ expectations of $704.89 million. Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share.

Several equities analysts have commented on the stock. Credit Suisse Group dropped their price target on shares of Palo Alto Networks from $190.00 to $185.00 and set an “underperform” rating on the stock in a research note on Thursday, May 30th. Mizuho dropped their price target on shares of Palo Alto Networks from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Northland Securities reiterated a “hold” rating and issued a $240.00 price target on shares of Palo Alto Networks in a research note on Thursday, May 30th. JPMorgan Chase & Co. dropped their price target on shares of Palo Alto Networks from $293.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Wells Fargo & Co dropped their price target on shares of Palo Alto Networks from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $263.03.

In related news, EVP Lee Klarich sold 4,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $217.33, for a total transaction of $869,320.00. Following the completion of the sale, the executive vice president now directly owns 282,222 shares of the company’s stock, valued at $61,335,307.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kathleen Bonanno sold 7,210 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $200.00, for a total value of $1,442,000.00. Following the sale, the chief financial officer now directly owns 31,796 shares of the company’s stock, valued at $6,359,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,092 shares of company stock valued at $39,067,840. Corporate insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Securities Inc. raised its position in Palo Alto Networks by 3.5% in the 4th quarter. Comerica Securities Inc. now owns 3,103 shares of the network technology company’s stock worth $584,000 after purchasing an additional 105 shares during the period. Dimensional Fund Advisors LP raised its position in Palo Alto Networks by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 103,149 shares of the network technology company’s stock worth $19,425,000 after purchasing an additional 4,496 shares during the period. Geode Capital Management LLC raised its position in Palo Alto Networks by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 810,984 shares of the network technology company’s stock worth $152,637,000 after purchasing an additional 32,284 shares during the period. FMR LLC raised its position in Palo Alto Networks by 424.2% in the 4th quarter. FMR LLC now owns 326,709 shares of the network technology company’s stock worth $61,536,000 after purchasing an additional 264,384 shares during the period. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Palo Alto Networks in the first quarter valued at about $362,000. 79.51% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks stock traded up $2.62 during mid-day trading on Tuesday, hitting $217.24. The company had a trading volume of 334,908 shares, compared to its average volume of 917,845. The stock has a market cap of $21.35 billion, a price-to-earnings ratio of -394.97, a PEG ratio of 7.55 and a beta of 0.90. Palo Alto Networks has a 1 year low of $160.08 and a 1 year high of $260.63. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.97. The business has a fifty day moving average of $216.86 and a 200 day moving average of $225.60.

Palo Alto Networks Company Profile

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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