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

Palo Alto Networks (NASDAQ:PANWGet Free Report) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.400-1.420 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Evercore ISI dropped their target price on Palo Alto Networks from $405.00 to $385.00 and set an outperform rating for the company in a report on Tuesday, May 14th. Barclays dropped their target price on Palo Alto Networks from $400.00 to $345.00 and set an overweight rating for the company in a report on Wednesday, February 21st. Macquarie lifted their target price on Palo Alto Networks from $270.00 to $285.00 and gave the stock a neutral rating in a report on Tuesday. The Goldman Sachs Group upped their price objective on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Finally, Mizuho cut their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Twelve equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of Moderate Buy and an average price target of $317.45.

View Our Latest Analysis on PANW

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $311.44 on Friday. Palo Alto Networks has a 1 year low of $194.08 and a 1 year high of $380.84. The firm has a market cap of $100.84 billion, a PE ratio of 45.27, a P/E/G ratio of 4.99 and a beta of 1.18. The stock has a fifty day moving average price of $289.58 and a 200-day moving average price of $299.15.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last announced its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities analysts anticipate that Palo Alto Networks will post 2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the transaction, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders sold a total of 278,326 shares of company stock worth $80,147,130 in the last quarter. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Company Profile

(Get Free Report)

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

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