Palo Alto Networks (NASDAQ:PANW) Updates Q2 Earnings Guidance

Palo Alto Networks (NASDAQ:PANW - Get Free Report) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.54-1.56 for the period, compared to the consensus EPS estimate of $1.55. The company issued revenue guidance of $2.22-2.25 billion, compared to the consensus revenue estimate of $2.23 billion. Palo Alto Networks also updated its FY25 guidance to $6.26-6.39 EPS.

Palo Alto Networks Stock Up 1.2 %

PANW traded up $4.83 during trading hours on Wednesday, hitting $392.89. The stock had a trading volume of 5,069,620 shares, compared to its average volume of 3,835,207. The stock has a market cap of $127.92 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. The company's fifty day simple moving average is $361.53 and its 200 day simple moving average is $338.02. Palo Alto Networks has a 1 year low of $258.17 and a 1 year high of $408.53.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Wednesday, November 20th. The network technology company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.48 by $0.08. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the company earned $0.63 EPS. The company's revenue was up 13.9% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks will post 3.56 EPS for the current year.

Analysts Set New Price Targets

PANW has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on Palo Alto Networks from $300.00 to $330.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on shares of Palo Alto Networks from $387.00 to $449.00 and gave the company an "overweight" rating in a research report on Monday. BTIG Research lifted their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. Royal Bank of Canada increased their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 20th. Finally, TD Cowen upped their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $391.92.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares of the company's stock, valued at $370,926,027.50. The trade was a 3.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the transaction, the director now directly owns 31,517 shares of the company's stock, valued at $10,983,359.33. The trade was a 24.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,252 shares of company stock worth $89,041,637. 2.50% of the stock is currently owned by insiders.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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