Palo Alto Networks (NASDAQ:PANW) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Palo Alto Networks (NASDAQ:PANW) released its quarterly earnings results on Monday. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10, Briefing.com reports. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. Palo Alto Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. Palo Alto Networks updated its Q1 guidance to $1.47-1.49 EPS and its FY25 guidance to $6.18-6.31 EPS.

Palo Alto Networks Stock Performance

Palo Alto Networks stock traded down $8.26 during trading hours on Wednesday, hitting $359.75. The company had a trading volume of 4,999,238 shares, compared to its average volume of 4,444,848. The firm has a market cap of $116.49 billion, a P/E ratio of 52.29, a P/E/G ratio of 4.48 and a beta of 1.14. The company has a 50-day moving average price of $328.10 and a two-hundred day moving average price of $310.84. Palo Alto Networks has a 1 year low of $224.64 and a 1 year high of $380.84.

Insider Activity

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the transaction, the president now directly owns 20,501 shares in the company, valued at approximately $6,292,166.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares in the company, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 366,993 shares of company stock valued at $118,596,770. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PANW. Stifel Nicolaus increased their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday. Daiwa America raised shares of Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Wells Fargo & Company lifted their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday. Argus increased their price target on Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Monday. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.49.

Palo Alto Networks Company Profile

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.