Palo Alto Networks (NYSE:PANW) Releases FY20 Earnings Guidance

Palo Alto Networks (NYSE:PANW) updated its FY20 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.00-5.10 for the period, compared to the Thomson Reuters consensus estimate of $6.27. The company issued revenue guidance of $3.44-3.48 billion, compared to the consensus revenue estimate of $3.45 billion.Palo Alto Networks also updated its Q1 guidance to $1.02-1.04 EPS.

Several analysts recently weighed in on PANW shares. Monness Crespi & Hardt restated a buy rating and set a $265.00 price target (down previously from $280.00) on shares of Palo Alto Networks in a report on Thursday, May 30th. Wells Fargo & Co dropped their price target on Palo Alto Networks from $300.00 to $275.00 and set an overweight rating on the stock in a research report on Thursday. Barclays dropped their price objective on Palo Alto Networks from $303.00 to $242.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Bank of America reduced their price objective on Palo Alto Networks from $307.00 to $275.00 and set a buy rating for the company in a research note on Tuesday, August 20th. Finally, Cowen started coverage on Palo Alto Networks in a research report on Thursday, May 23rd. They set a market perform rating and a $230.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of Buy and an average target price of $263.14.

Shares of PANW stock traded up $5.71 during trading hours on Friday, reaching $217.76. 92,688 shares of the company’s stock were exchanged, compared to its average volume of 1,445,614. The company has a market cap of $19.24 billion, a P/E ratio of 344.77, a price-to-earnings-growth ratio of 6.81 and a beta of 0.94. The company’s 50 day moving average is $213.19 and its two-hundred day moving average is $223.49. Palo Alto Networks has a 1 year low of $160.08 and a 1 year high of $260.63. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.86 and a quick ratio of 1.86.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The firm had revenue of $805.80 million during the quarter, compared to analyst estimates of $803.56 million. Palo Alto Networks had a positive return on equity of 5.13% and a negative net margin of 2.82%. The business’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. As a group, analysts predict that Palo Alto Networks will post 1.26 EPS for the current fiscal year.

In other Palo Alto Networks news, EVP Rene Bonvanie sold 9,611 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $220.00, for a total transaction of $2,114,420.00. Following the sale, the executive vice president now owns 32,082 shares in the company, valued at approximately $7,058,040. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $205.14, for a total value of $8,205,600.00. Following the sale, the director now owns 245,221 shares in the company, valued at approximately $50,304,635.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,882 shares of company stock worth $27,369,400. 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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