Palo Alto Networks, Inc. (PANW) Updates FY18 Earnings Guidance
Palo Alto Networks, Inc. (NYSE:PANW) issued an update on its FY18 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.35-3.41 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.30. The company issued revenue guidance of $2.145-2.185 billion, compared to the consensus revenue estimate of $2.15 billion.Palo Alto Networks also updated its Q2 guidance to $0.78-0.80 EPS.
Shares of Palo Alto Networks, Inc. (NYSE PANW) opened at $149.40 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.69. Palo Alto Networks, Inc. has a fifty-two week low of $107.31 and a fifty-two week high of $157.65.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.06. The firm had revenue of $505.50 million for the quarter, compared to analyst estimates of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.05%. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. sell-side analysts expect that Palo Alto Networks, Inc. will post -0.5 EPS for the current year.
Several equities research analysts have issued reports on PANW shares. BidaskClub raised shares of Palo Alto Networks from a strong sell rating to a sell rating in a report on Thursday, August 17th. Rosenblatt Securities restated a buy rating and issued a $160.00 target price on shares of Palo Alto Networks in a research note on Friday, September 1st. Oppenheimer Holdings, Inc. restated a buy rating and issued a $180.00 target price (up previously from $173.00) on shares of Palo Alto Networks in a research note on Tuesday. Citigroup Inc. restated a buy rating and issued a $168.00 target price (up previously from $160.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Finally, UBS AG set a $140.00 target price on shares of Palo Alto Networks and gave the company a hold rating in a research note on Tuesday, August 29th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $162.18.
In other news, insider Nir Zuk sold 2,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $145.01, for a total value of $290,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl M. Eschenbach sold 1,572 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the sale, the director now directly owns 3,619 shares of the company’s stock, valued at approximately $524,718.81. The disclosure for this sale can be found here. Insiders have sold a total of 284,744 shares of company stock valued at $42,239,296 over the last ninety days. 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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