Palo Alto Networks (NASDAQ:PANW) Updates Q4 Earnings Guidance

Palo Alto Networks (NASDAQ:PANW – Get Rating) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.26-1.30 for the period, compared to the consensus earnings per share estimate of $1.18. The company issued revenue guidance of $1.937-1.967 billion, compared to the consensus revenue estimate of $1.95 billion.

Palo Alto Networks Stock Up 1.8 %

Shares of PANW stock opened at $207.98 on Friday. Palo Alto Networks has a 12 month low of $132.22 and a 12 month high of $208.87. The business’s 50 day moving average is $192.20 and its two-hundred day moving average is $178.00. The company has a market cap of $62.94 billion, a PE ratio of 330.13, a price-to-earnings-growth ratio of 5.41 and a beta of 1.17.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The network technology company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.12 by $0.22. Palo Alto Networks had a return on equity of 69.46% and a net margin of 3.32%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. As a group, equities analysts expect that Palo Alto Networks will post 1.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PANW shares. Oppenheimer increased their price target on Palo Alto Networks from $220.00 to $250.00 and gave the company an outperform rating in a report on Monday, April 17th. Loop Capital increased their price objective on Palo Alto Networks from $225.00 to $240.00 in a research report on Wednesday. Rosenblatt Securities began coverage on Palo Alto Networks in a research report on Monday, May 1st. They issued a buy rating and a $250.00 price objective for the company. Morgan Stanley increased their price objective on Palo Alto Networks from $240.00 to $255.00 and gave the company an overweight rating in a research report on Wednesday, February 22nd. Finally, JMP Securities increased their price objective on Palo Alto Networks from $230.00 to $255.00 and gave the company an outperform rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $232.19.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 275 shares of Palo Alto Networks stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $186.60, for a total value of $51,315.00. Following the completion of the sale, the chief accounting officer now directly owns 30,944 shares in the company, valued at $5,774,150.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 13,800 shares of the firm’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $201.42, for a total transaction of $2,779,596.00. Following the transaction, the chief executive officer now owns 1,177,193 shares in the company, valued at $237,110,214.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 275 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $186.60, for a total value of $51,315.00. Following the transaction, the chief accounting officer now owns 30,944 shares in the company, valued at approximately $5,774,150.40. The disclosure for this sale can be found here. Insiders sold a total of 267,330 shares of company stock worth $50,478,046 over the last three months. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palo Alto Networks

Institutional investors have recently modified their holdings of the business. Worth Asset Management LLC bought a new position in shares of Palo Alto Networks during the 1st quarter valued at about $26,000. Fortis Capital Advisors LLC bought a new position in shares of Palo Alto Networks during the 4th quarter valued at about $28,000. Sunbelt Securities Inc. bought a new position in shares of Palo Alto Networks during the 1st quarter valued at about $34,000. Covestor Ltd lifted its holdings in shares of Palo Alto Networks by 61.8% during the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after purchasing an additional 21 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Palo Alto Networks by 1,071.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock valued at $41,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 81.82% of the company’s stock.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.