$703.44 Million in Sales Expected for Palo Alto Networks Inc (PANW) This Quarter

Wall Street brokerages expect that Palo Alto Networks Inc (NYSE:PANW) will report sales of $703.44 million for the current fiscal quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Palo Alto Networks’ earnings. The highest sales estimate is $717.57 million and the lowest is $695.20 million. Palo Alto Networks reported sales of $567.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24%. The firm is expected to report its next earnings report on Monday, June 3rd.

According to Zacks, analysts expect that Palo Alto Networks will report full-year sales of $2.87 billion for the current year, with estimates ranging from $2.83 billion to $2.89 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.43 billion, with estimates ranging from $3.35 billion to $3.55 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Tuesday, February 26th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.29. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. The company had revenue of $711.00 million for the quarter, compared to the consensus estimate of $682.32 million. During the same quarter last year, the business posted $0.97 EPS. Palo Alto Networks’s quarterly revenue was up 30.3% compared to the same quarter last year.

PANW has been the subject of several recent research reports. Zacks Investment Research cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th. Dougherty & Co reissued a “buy” rating and set a $300.00 price target (up previously from $260.00) on shares of Palo Alto Networks in a research report on Wednesday, February 27th. Mizuho started coverage on shares of Palo Alto Networks in a research report on Tuesday, March 26th. They issued a “buy” rating and a $285.00 target price for the company. Credit Suisse Group lifted their price target on shares of Palo Alto Networks from $160.00 to $190.00 and gave the company an “underperform” rating in a research report on Wednesday, February 27th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $280.00 price target (up from $235.00) on shares of Palo Alto Networks in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $267.91.

Shares of Palo Alto Networks stock traded down $1.21 during midday trading on Thursday, hitting $240.20. The company’s stock had a trading volume of 930,578 shares, compared to its average volume of 1,284,273. The stock has a market cap of $22.63 billion, a PE ratio of -436.73, a price-to-earnings-growth ratio of 11.63 and a beta of 0.86. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.31. Palo Alto Networks has a 1-year low of $160.08 and a 1-year high of $260.63.

In related news, EVP Nir Zuk sold 30,000 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $184.49, for a total value of $5,534,700.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 6,200 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $250.04, for a total transaction of $1,550,248.00. Following the completion of the transaction, the director now owns 215,206 shares in the company, valued at approximately $53,810,108.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,852 shares of company stock worth $47,441,774. 3.10% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in PANW. Bruderman Asset Management LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth about $38,000. Karp Capital Management Corp purchased a new stake in Palo Alto Networks in the 4th quarter worth approximately $40,000. Financial Advocates Investment Management lifted its stake in Palo Alto Networks by 65.2% in the 4th quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock worth $43,000 after purchasing an additional 45 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Palo Alto Networks by 278.8% in the 4th quarter. Captrust Financial Advisors now owns 250 shares of the network technology company’s stock worth $47,000 after buying an additional 184 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Palo Alto Networks by 26.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 262 shares of the network technology company’s stock worth $49,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 80.88% of the company’s stock.

About Palo Alto Networks

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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