Palo Alto Networks (NASDAQ:PANW) Releases Q4 2024 Earnings Guidance

Palo Alto Networks (NASDAQ:PANW - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.400-1.420 for the period, compared to the consensus EPS estimate of 1.410. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.0 billion. Palo Alto Networks also updated its FY 2024 guidance to 5.560-5.580 EPS.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PANW. Rosenblatt Securities downgraded Palo Alto Networks from a buy rating to a neutral rating and cut their price objective for the stock from $290.00 to $265.00 in a report on Wednesday, February 21st. Sanford C. Bernstein raised their price target on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an outperform rating in a report on Tuesday. Scotiabank decreased their price objective on shares of Palo Alto Networks from $363.00 to $337.00 and set a sector outperform rating for the company in a research note on Wednesday, February 21st. Piper Sandler downgraded shares of Palo Alto Networks from an overweight rating to a neutral rating and cut their target price for the company from $350.00 to $300.00 in a research note on Wednesday, February 21st. Finally, KeyCorp upped their price target on shares of Palo Alto Networks from $355.00 to $384.00 and gave the stock an overweight rating in a research report on Thursday, May 16th. Twelve equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $317.20.

Palo Alto Networks Trading Down 3.7 %

PANW traded down $12.11 during trading on Tuesday, reaching $311.66. 13,753,051 shares of the company were exchanged, compared to its average volume of 5,186,567. Palo Alto Networks has a 52 week low of $188.30 and a 52 week high of $380.84. The firm has a 50 day moving average of $288.74 and a 200 day moving average of $299.00. The stock has a market cap of $100.70 billion, a P/E ratio of 48.70, a PEG ratio of 4.32 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Palo Alto Networks's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. As a group, analysts forecast that Palo Alto Networks will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President William D. Jenkins, Jr. sold 1,867 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now directly owns 25,812 shares of the company's stock, valued at $7,230,715.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Lee Klarich sold 121,276 shares of the company's stock in a transaction on Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the sale, the executive vice president now owns 166,542 shares in the company, valued at $49,895,983.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now directly owns 25,812 shares in the company, valued at $7,230,715.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,193 shares of company stock worth $80,670,132. 3.30% of the stock is owned by company 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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