Research Analysts Offer Predictions for Palo Alto Networks, Inc.’s FY2024 Earnings (NASDAQ:PANW)

Palo Alto Networks, Inc. (NASDAQ:PANW) – Equities researchers at Capital One Financial issued their FY2024 earnings estimates for Palo Alto Networks in a report released on Thursday, July 11th. Capital One Financial analyst C. Murphy expects that the network technology company will earn $2.95 per share for the year. The consensus estimate for Palo Alto Networks’ current full-year earnings is $2.94 per share. Capital One Financial also issued estimates for Palo Alto Networks’ Q4 2024 earnings at $0.79 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.86 EPS, Q4 2025 earnings at $0.96 EPS and FY2025 earnings at $3.58 EPS.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results 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 company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. Palo Alto Networks’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS.

Other equities analysts have also recently issued research reports about the stock. Wedbush restated an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Redburn Atlantic upped their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Macquarie increased their price objective on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Sanford C. Bernstein boosted their target price on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $360.00 price target on shares of Palo Alto Networks in a research note on Wednesday, June 12th. Twelve research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.29.

Palo Alto Networks Stock Up 1.6 %

Shares of NASDAQ PANW opened at $336.50 on Monday. The company has a market cap of $108.96 billion, a price-to-earnings ratio of 48.91, a PEG ratio of 5.15 and a beta of 1.14. The firm’s fifty day moving average is $316.50 and its 200 day moving average is $309.68. Palo Alto Networks has a 52 week low of $201.17 and a 52 week high of $380.84.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 125,866 shares of Palo Alto Networks stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the sale, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at $55,791,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now owns 20,501 shares in the company, valued at $6,292,166.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares in the company, valued at $55,791,570. The disclosure for this sale can be found here. Insiders have sold a total of 428,391 shares of company stock worth $136,147,317 in the last ninety days. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSG Advisors LLC grew its holdings in Palo Alto Networks by 1.0% during the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after purchasing an additional 51 shares during the last quarter. Spirit of America Management Corp NY raised its holdings in shares of Palo Alto Networks by 50.0% in the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after buying an additional 100 shares during the period. Beacon Pointe Advisors LLC raised its holdings in shares of Palo Alto Networks by 31.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock worth $33,038,000 after buying an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Palo Alto Networks by 9.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock worth $7,291,000 after acquiring an additional 2,225 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Company Profile

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.