Palo Alto Networks, Inc. (PANW) Releases FY18 Earnings Guidance
Palo Alto Networks, Inc. (NYSE:PANW) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.24-3.34 for the period, compared to the Thomson Reuters consensus estimate of $3.27. The company issued revenue guidance of $2.125-2.165 billion, compared to the consensus revenue estimate of $2.13 billion.Palo Alto Networks also updated its Q1 guidance to $0.67-0.69 EPS.
Several research analysts have recently commented on the stock. Piper Jaffray Companies set a $156.00 price target on shares of Palo Alto Networks and gave the company a buy rating in a report on Thursday, June 1st. Cowen and Company reaffirmed an outperform rating and issued a $150.00 price target on shares of Palo Alto Networks in a report on Thursday, May 25th. Vetr raised shares of Palo Alto Networks from a hold rating to a buy rating and set a $140.90 price target for the company in a report on Monday, July 3rd. Barclays PLC reaffirmed an overweight rating and issued a $158.00 price target (up from $145.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, Gabelli raised shares of Palo Alto Networks from a hold rating to a buy rating and set a $159.00 price target for the company in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty-seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $149.74.
Shares of Palo Alto Networks, Inc. (NYSE PANW) traded down 0.08% on Thursday, reaching $132.69. 2,430,586 shares of the company were exchanged. The stock’s market capitalization is $12.18 billion. The stock has a 50 day moving average price of $134.20 and a 200-day moving average price of $127.24. Palo Alto Networks, Inc. has a 12 month low of $107.31 and a 12 month high of $165.69.
Palo Alto Networks (NYSE:PANW) last announced its earnings results on Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.55 by $0.06. The firm had revenue of $431.80 million for the quarter, compared to the consensus estimate of $412.11 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. On average, equities analysts expect that Palo Alto Networks, Inc. will post $2.59 EPS for the current fiscal year.
In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the sale, the director now directly owns 271,645 shares in the company, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.80% of the company’s stock.
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Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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