Palo Alto Networks (NYSE:PANW) Releases Q1 Earnings Guidance

Palo Alto Networks (NYSE:PANW) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.02-1.04 for the period, compared to the Thomson Reuters consensus estimate of $1.33. The company issued revenue guidance of $760-770 million, compared to the consensus revenue estimate of $789.55 million.Palo Alto Networks also updated its FY20 guidance to $5.00-5.10 EPS.

PANW traded up $1.36 during trading on Wednesday, reaching $200.49. 2,389,908 shares of the company’s stock were exchanged, compared to its average volume of 1,294,417. Palo Alto Networks has a fifty-two week low of $160.08 and a fifty-two week high of $260.63. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $213.45 and a 200 day moving average price of $223.57. The company has a market capitalization of $19.54 billion, a P/E ratio of -364.53, a PEG ratio of 6.91 and a beta of 0.94.

A number of equities research analysts have recently issued reports on PANW shares. Evercore ISI reiterated a buy rating and set a $290.00 price objective on shares of Palo Alto Networks in a research note on Sunday, June 2nd. Bank of America dropped their price objective on Palo Alto Networks from $307.00 to $275.00 and set a buy rating on the stock in a research note on Tuesday, August 20th. BMO Capital Markets dropped their price objective on Palo Alto Networks from $285.00 to $250.00 and set a market perform rating on the stock in a research note on Thursday, May 30th. Robert W. Baird reiterated a buy rating and set a $275.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group dropped their price target on Palo Alto Networks from $296.00 to $275.00 and set a buy rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $263.38.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $227.43, for a total value of $9,097,200.00. Following the transaction, the director now directly owns 240,236 shares of the company’s stock, valued at approximately $54,636,873.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kathleen Bonanno sold 1,609 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $224.00, for a total value of $360,416.00. Following the completion of the transaction, the chief financial officer now directly owns 28,572 shares in the company, valued at $6,400,128. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,882 shares of company stock worth $37,625,840. Insiders own 3.10% 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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