Wall Street analysts forecast that Palo Alto Networks Inc (NYSE:PANW) will announce $631.70 million in sales for the current quarter, according to Zacks. Thirteen analysts have made estimates for Palo Alto Networks’ earnings. The highest sales estimate is $636.70 million and the lowest is $628.72 million. Palo Alto Networks posted sales of $505.50 million during the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, November 29th.

On average, analysts expect that Palo Alto Networks will report full-year sales of $2.78 billion for the current fiscal year, with estimates ranging from $2.72 billion to $2.86 billion. For the next financial year, analysts anticipate that the company will report sales of $3.30 billion, with estimates ranging from $3.16 billion to $3.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Palo Alto Networks.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Thursday, September 6th. The network technology company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.11. Palo Alto Networks had a negative return on equity of 4.12% and a negative net margin of 6.51%. The firm had revenue of $658.10 million for the quarter, compared to the consensus estimate of $634.14 million. During the same quarter in the previous year, the company earned $0.92 EPS. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year.

Several equities analysts have weighed in on PANW shares. Royal Bank of Canada lifted their target price on Palo Alto Networks to $250.00 in a research note on Friday, September 7th. Citigroup lifted their target price on Palo Alto Networks from $237.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Rosenblatt Securities lifted their target price on Palo Alto Networks to $280.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Deutsche Bank lifted their target price on Palo Alto Networks to $265.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, Maxim Group lifted their target price on Palo Alto Networks from $262.00 to $274.00 and gave the company a “buy” rating in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $240.94.

NYSE:PANW opened at $183.09 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.93 and a current ratio of 1.93. Palo Alto Networks has a fifty-two week low of $135.85 and a fifty-two week high of $239.50. The stock has a market cap of $17.77 billion, a price-to-earnings ratio of -332.89, a price-to-earnings-growth ratio of 13.24 and a beta of 1.22.

In related news, CFO Kathleen Bonanno sold 467 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total value of $99,485.01. Following the completion of the sale, the chief financial officer now owns 34,954 shares of the company’s stock, valued at approximately $7,446,250.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Mark Anderson sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $231.92, for a total value of $6,957,600.00. Following the completion of the sale, the president now directly owns 140,841 shares of the company’s stock, valued at approximately $32,663,844.72. The disclosure for this sale can be found here. In the last three months, insiders sold 285,178 shares of company stock valued at $62,189,621. 3.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board boosted its position in Palo Alto Networks by 10.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,607,673 shares of the network technology company’s stock worth $362,144,000 after purchasing an additional 146,447 shares during the period. Northern Trust Corp boosted its position in Palo Alto Networks by 0.3% during the second quarter. Northern Trust Corp now owns 1,092,883 shares of the network technology company’s stock worth $224,555,000 after purchasing an additional 3,313 shares during the period. Bank of Montreal Can boosted its position in Palo Alto Networks by 193.7% during the second quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock worth $112,061,000 after purchasing an additional 359,685 shares during the period. Frontier Capital Management Co. LLC boosted its position in Palo Alto Networks by 7.4% during the third quarter. Frontier Capital Management Co. LLC now owns 536,700 shares of the network technology company’s stock worth $120,897,000 after purchasing an additional 37,183 shares during the period. Finally, First Trust Advisors LP boosted its position in Palo Alto Networks by 199.8% during the second quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock worth $108,800,000 after purchasing an additional 352,914 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.

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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