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AAPL   315.48 (-0.39%)
MSFT   178.55 (-1.66%)
FB   225.33 (-2.96%)
GOOGL   1,411.05 (-0.73%)
AMZN   2,386.19 (-1.47%)
CGC   19.39 (-3.10%)
BABA   200.23 (-0.74%)
GE   7.30 (+7.35%)
TSLA   803.61 (-1.86%)
AMD   50.50 (-5.06%)
ACB   15.30 (-1.99%)
DIS   121.56 (+0.50%)
BAC   25.55 (+5.23%)
AAPL   315.48 (-0.39%)
MSFT   178.55 (-1.66%)
FB   225.33 (-2.96%)
GOOGL   1,411.05 (-0.73%)
AMZN   2,386.19 (-1.47%)
CGC   19.39 (-3.10%)
BABA   200.23 (-0.74%)
GE   7.30 (+7.35%)
TSLA   803.61 (-1.86%)
AMD   50.50 (-5.06%)
ACB   15.30 (-1.99%)
DIS   121.56 (+0.50%)
BAC   25.55 (+5.23%)
AAPL   315.48 (-0.39%)
MSFT   178.55 (-1.66%)
FB   225.33 (-2.96%)
GOOGL   1,411.05 (-0.73%)
AMZN   2,386.19 (-1.47%)
CGC   19.39 (-3.10%)
BABA   200.23 (-0.74%)
GE   7.30 (+7.35%)
TSLA   803.61 (-1.86%)
AMD   50.50 (-5.06%)
ACB   15.30 (-1.99%)
DIS   121.56 (+0.50%)
BAC   25.55 (+5.23%)
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Palo Alto Networks (NYSE:PANW) Shares Gap Up Following Earnings Beat

Friday, May 22, 2020 | MarketBeat

Palo Alto Networks Inc (NYSE:PANW)'s stock price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $219.00, but opened at $229.50. Palo Alto Networks shares last traded at $237.93, with a volume of 4,104,512 shares.

The network technology company reported $1.17 EPS for the quarter, beating the consensus estimate of ($0.37) by $1.54. The firm had revenue of $869.40 million for the quarter, compared to analyst estimates of $831.52 million. Palo Alto Networks had a negative return on equity of 2.19% and a negative net margin of 5.58%. Palo Alto Networks's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.31 earnings per share.

Several equities analysts have issued reports on PANW shares. Citigroup dropped their price objective on Palo Alto Networks from $283.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Oppenheimer raised their price objective on Palo Alto Networks from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday. BTIG Research started coverage on Palo Alto Networks in a report on Friday, March 27th. They set a "neutral" rating on the stock. Barclays raised their price objective on Palo Alto Networks from $236.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday. Finally, JPMorgan Chase & Co. lowered Palo Alto Networks from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $284.00 to $236.00 in a report on Tuesday, February 25th. Twelve equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Palo Alto Networks currently has an average rating of "Buy" and a consensus price target of $254.48.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $194.20, for a total value of $2,330,400.00. Following the completion of the sale, the executive vice president now directly owns 986,875 shares of the company's stock, valued at approximately $191,651,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Donovan bought 8,102 shares of the stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $185.35 per share, with a total value of $1,501,705.70. Following the completion of the purchase, the director now directly owns 11,222 shares in the company, valued at approximately $2,079,997.70. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company's stock.

A number of hedge funds have recently added to or reduced their stakes in PANW. Huntington National Bank grew its stake in Palo Alto Networks by 61.9% in the 4th quarter. Huntington National Bank now owns 437 shares of the network technology company's stock worth $101,000 after acquiring an additional 167 shares during the period. Nisa Investment Advisors LLC grew its stake in Palo Alto Networks by 50.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,968 shares of the network technology company's stock worth $1,843,000 after acquiring an additional 2,668 shares during the period. Janney Montgomery Scott LLC grew its stake in Palo Alto Networks by 5.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,079 shares of the network technology company's stock worth $1,868,000 after acquiring an additional 437 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Palo Alto Networks in the 4th quarter worth approximately $459,000. Finally, SeaCrest Wealth Management LLC grew its stake in shares of Palo Alto Networks by 6.1% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,286 shares of the network technology company's stock valued at $297,000 after buying an additional 74 shares during the period. 77.99% of the stock is owned by hedge funds and other institutional investors.

The company's 50 day moving average price is $194.57 and its 200-day moving average price is $214.23. The company has a market capitalization of $23.38 billion, a PE ratio of -132.19 and a beta of 1.14. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.13.

Palo Alto Networks Company Profile (NYSE:PANW)

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.

Further Reading: Growth Stocks, What They Are, What They Are Not

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6 Stocks That Will Benefit From a Dovish Federal Reserve

The quaint correction that was labeled the “tech wreck” of 2018 seems like a distant memory to investors. What also seems like a distant memory is any thought of the Federal Reserve raising interest rates.

At the end of 2018, the Federal Reserve had raised its benchmark federal funds rate. With the trade dispute with China dragging on, there was increasing pressure on the Fed to lower interest rates. When interest rates are lower, stocks will generally rise as investors have no other option for growth.

In July 2019, the doves got their wish. But in a move that now seems to be a “what did they know move”, the Fed dropped rates again in October. The market soared to record highs in January and early February. Since mid-February however, the market has fallen dramatically, and the Fed juiced the market one more time by cutting rates down to levels not seen since the financial crisis.

None of us know for sure when the U.S. economy will be opened up. And while stocks are still a good investment, not every stock is a smart investment at this time. But some stocks perform well when interest rates are falling and that’s why we’ve prepared this presentation.

These six stocks stand to benefit from both low-interest rates and the unique economic conditions being brought on by the Covid-19 pandemic.

View the "6 Stocks That Will Benefit From a Dovish Federal Reserve".

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