Q1 2023 Earnings Forecast for Palo Alto Networks, Inc. (NYSE:PANW) Issued By KeyCorp

Last updated on Thursday, September 16, 2021 | 2021 MarketBeat

Palo Alto Networks, Inc. (NYSE:PANW) - Research analysts at KeyCorp boosted their Q1 2023 EPS estimates for Palo Alto Networks in a research note issued to investors on Tuesday, September 14th. KeyCorp analyst M. Turits now expects that the network technology company will post earnings of ($0.05) per share for the quarter, up from their prior estimate of ($0.06). KeyCorp currently has a "Overweight" rating and a $507.00 target price on the stock. KeyCorp also issued estimates for Palo Alto Networks' Q2 2023 earnings at ($0.30) EPS, FY2023 earnings at ($0.30) EPS and FY2024 earnings at $0.77 EPS.

PANW has been the subject of a number of other reports. JMP Securities reissued a "buy" rating and set a $550.00 target price (up from $455.00) on shares of Palo Alto Networks in a research note on Tuesday. Summit Insights reissued a "buy" rating and set a $500.00 target price (up from $425.00) on shares of Palo Alto Networks in a research note on Tuesday, August 24th. BTIG Research increased their target price on Palo Alto Networks from $509.00 to $555.00 and gave the stock a "buy" rating in a research note on Tuesday. Mizuho raised their price target on shares of Palo Alto Networks from $525.00 to $560.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their price target on shares of Palo Alto Networks from $490.00 to $560.00 and gave the stock a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $506.13.

Shares of PANW stock opened at $479.94 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.91 and a quick ratio of 1.38. The stock has a market cap of $46.75 billion, a PE ratio of -92.65 and a beta of 1.40. The stock has a 50-day moving average of $413.04 and a 200-day moving average of $372.70. Palo Alto Networks has a one year low of $219.34 and a one year high of $495.92. Palo Alto Networks (NYSE:PANW) last released its earnings results on Sunday, August 22nd. The network technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.16. 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 $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $1.48 EPS. The company's revenue was up 28.3% compared to the same quarter last year.

In other news, Director Mark D. Mclaughlin sold 1,500 shares of Palo Alto Networks stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $460.03, for a total transaction of $690,045.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $369.01, for a total value of $4,428,120.00. The disclosure for this sale can be found here. Insiders sold 50,184 shares of company stock worth $20,813,424 in the last 90 days. 2.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC increased its holdings in shares of Palo Alto Networks by 84.7% during the first quarter. Los Angeles Capital Management LLC now owns 6,772 shares of the network technology company's stock valued at $2,181,000 after acquiring an additional 3,105 shares in the last quarter. Alpha Cubed Investments LLC increased its holdings in shares of Palo Alto Networks by 4.3% during the second quarter. Alpha Cubed Investments LLC now owns 31,877 shares of the network technology company's stock valued at $11,828,000 after acquiring an additional 1,300 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Palo Alto Networks by 1.9% during the first quarter. Stephens Investment Management Group LLC now owns 128,716 shares of the network technology company's stock valued at $41,454,000 after acquiring an additional 2,377 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Palo Alto Networks by 7.5% during the second quarter. Handelsbanken Fonder AB now owns 24,135 shares of the network technology company's stock valued at $8,955,000 after acquiring an additional 1,674 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in Palo Alto Networks by 22.1% during the second quarter. Wesbanco Bank Inc. now owns 22,117 shares of the network technology company's stock worth $8,206,000 after buying an additional 4,006 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. 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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