Palo Alto Networks (NASDAQ:PANW) Releases Q4 2022 Earnings Guidance

Palo Alto Networks (NASDAQ:PANWGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.26-$2.29 for the period, compared to the consensus estimate of $2.22. The company issued revenue guidance of $1.53 billion-$1.55 billion, compared to the consensus revenue estimate of $1.53 billion.Palo Alto Networks also updated its FY 2022 guidance to $7.43-$7.46 EPS.

NASDAQ:PANW opened at $478.68 on Friday. The stock’s 50-day simple moving average is $569.01 and its 200 day simple moving average is $540.83. The company has a market cap of $47.14 billion, a P/E ratio of -120.27 and a beta of 1.28. Palo Alto Networks has a 52-week low of $350.96 and a 52-week high of $640.90.

Palo Alto Networks (NASDAQ:PANWGet Rating) last posted its quarterly earnings results on Thursday, May 19th. The network technology company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.11. Palo Alto Networks had a negative return on equity of 54.57% and a negative net margin of 7.54%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company posted ($0.62) earnings per share. Palo Alto Networks’s quarterly revenue was up 29.1% on a year-over-year basis. Research analysts anticipate that Palo Alto Networks will post -1.29 EPS for the current year.

A number of equities analysts recently commented on PANW shares. BMO Capital Markets reduced their price target on Palo Alto Networks from $685.00 to $615.00 and set a buy rating for the company in a report on Friday. BTIG Research boosted their price objective on Palo Alto Networks from $610.00 to $720.00 and gave the stock a buy rating in a report on Friday, April 8th. Citigroup boosted their price objective on Palo Alto Networks from $600.00 to $610.00 and gave the stock a buy rating in a report on Friday. Barclays boosted their price objective on Palo Alto Networks from $625.00 to $645.00 and gave the stock an overweight rating in a report on Wednesday, February 23rd. Finally, Raymond James restated a buy rating and set a $610.00 price objective on shares of Palo Alto Networks in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $626.48.

In other news, EVP Lee Klarich sold 4,001 shares of the company’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $559.22, for a total transaction of $2,237,439.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark D. Mclaughlin sold 9,500 shares of the company’s stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $598.00, for a total transaction of $5,681,000.00. The disclosure for this sale can be found here. Insiders have sold 71,032 shares of company stock valued at $40,587,677 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Wall Street Access Asset Management LLC bought a new stake in shares of Palo Alto Networks in the first quarter worth $240,000. Carolinas Wealth Consulting LLC boosted its position in Palo Alto Networks by 53.2% during the first quarter. Carolinas Wealth Consulting LLC now owns 383 shares of the network technology company’s stock valued at $238,000 after acquiring an additional 133 shares during the last quarter. Penserra Capital Management LLC boosted its position in Palo Alto Networks by 23.9% during the fourth quarter. Penserra Capital Management LLC now owns 425 shares of the network technology company’s stock valued at $236,000 after acquiring an additional 82 shares during the last quarter. HB Wealth Management LLC bought a new stake in Palo Alto Networks during the fourth quarter valued at $225,000. Finally, West Family Investments Inc. bought a new stake in Palo Alto Networks during the first quarter valued at $218,000. 84.33% of the stock is currently owned by institutional investors.

About Palo Alto Networks (Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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.

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

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