Palo Alto Networks (NYSE:PANW) Issues FY 2022 Earnings Guidance

Palo Alto Networks (NYSE:PANW) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $7.150-$7.250 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.240. The company issued revenue guidance of $6.68 billion-$6.73 billion, compared to the consensus revenue estimate of $5.31 billion.Palo Alto Networks also updated its Q2 2022 guidance to $1.630-$1.660 EPS.

Shares of NYSE PANW traded up $16.70 during midday trading on Thursday, hitting $549.72. 1,248,557 shares of the company traded hands, compared to its average volume of 1,171,238. Palo Alto Networks has a 12-month low of $289.77 and a 12-month high of $559.54. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day moving average price of $500.38 and a 200 day moving average price of $427.89. The firm has a market cap of $53.88 billion, a P/E ratio of -106.12 and a beta of 1.35.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, November 18th. The network technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.07. Palo Alto Networks had a negative net margin of 11.72% and a negative return on equity of 17.08%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company earned ($0.04) earnings per share. Palo Alto Networks’s quarterly revenue was up 31.9% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks will post -0.47 earnings per share for the current year.

Several equities analysts recently issued reports on PANW shares. Truist boosted their price target on shares of Palo Alto Networks from $525.00 to $600.00 and gave the company a buy rating in a research report on Friday, November 19th. JMP Securities upped their price objective on shares of Palo Alto Networks from $550.00 to $585.00 and gave the stock an outperform rating in a report on Friday, November 19th. Wedbush upped their price objective on shares of Palo Alto Networks from $600.00 to $630.00 and gave the stock an outperform rating in a report on Friday, November 19th. Stifel Nicolaus upped their price objective on shares of Palo Alto Networks from $560.00 to $600.00 and gave the stock a buy rating in a report on Friday, November 19th. Finally, OTR Global upgraded shares of Palo Alto Networks to a positive rating in a report on Monday, November 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks presently has an average rating of Buy and a consensus target price of $576.00.

In other Palo Alto Networks news, Director John P. Key sold 1,000 shares of the stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $457.87, for a total value of $457,870.00. Following the transaction, the director now directly owns 4,521 shares in the company, valued at $2,070,030.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 6,870 shares of the stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $462.48, for a total transaction of $3,177,237.60. Following the completion of the transaction, the executive vice president now owns 265,453 shares in the company, valued at $122,766,703.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,870 shares of company stock worth $28,176,363. 2.20% of the stock is owned by insiders.

About Palo Alto Networks

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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Earnings History and Estimates for Palo Alto Networks (NYSE:PANW)

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