Palo Alto Networks (NYSE:PANW) Updates FY 2022 Earnings Guidance

Palo Alto Networks (NYSE:PANW) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $7.150-$7.250 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.240. The company issued revenue guidance of $6.68 billion-$6.73 billion, compared to the consensus revenue estimate of $5.31 billion.Palo Alto Networks also updated its Q2 2022 guidance to $1.630-$1.660 EPS.

A number of equities research analysts recently weighed in on the stock. JMP Securities lifted their price objective on shares of Palo Alto Networks from $550.00 to $585.00 and gave the company an outperform rating in a report on Friday, November 19th. Royal Bank of Canada lifted their price objective on shares of Palo Alto Networks from $560.00 to $590.00 and gave the company an outperform rating in a report on Monday, November 15th. Cowen lifted their price objective on shares of Palo Alto Networks from $550.00 to $620.00 and gave the company an outperform rating in a report on Friday, November 19th. Northland Securities lifted their price objective on shares of Palo Alto Networks from $460.00 to $585.00 and gave the company an outperform rating in a report on Tuesday, September 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Palo Alto Networks from $560.00 to $600.00 and gave the company a buy rating in a report on Friday, November 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $576.00.

NYSE:PANW traded up $16.70 during trading hours on Thursday, hitting $549.72. 1,248,557 shares of the company were exchanged, compared to its average volume of 1,171,238. The stock has a market capitalization of $53.88 billion, a price-to-earnings ratio of -106.12 and a beta of 1.35. Palo Alto Networks has a 52-week low of $289.77 and a 52-week high of $559.54. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50 day moving average price is $500.38 and its 200-day moving average price is $427.89.

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

In related news, Director John P. Key sold 1,000 shares of the business’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $457.87, for a total value of $457,870.00. Following the completion of the transaction, the director now directly owns 4,521 shares in the company, valued at approximately $2,070,030.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark D. Mclaughlin sold 9,500 shares of the business’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $526.31, for a total transaction of $4,999,945.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,870 shares of company stock worth $28,176,363. 2.20% of the stock is owned by insiders.

Palo Alto Networks Company Profile

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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