Palo Alto Networks (NASDAQ:PANW – Get Free Report) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $5.27-5.40 for the period, compared to the consensus estimate of $4.98. The company issued revenue guidance of $8.15-8.20 billion, compared to the consensus revenue estimate of $8.38 billion. Palo Alto Networks also updated its FY 2024 guidance to $5.27-$5.40 EPS.
Palo Alto Networks Stock Performance
Shares of NASDAQ PANW opened at $209.69 on Monday. Palo Alto Networks has a 1 year low of $132.22 and a 1 year high of $258.88. The firm’s 50 day moving average price is $238.74 and its 200 day moving average price is $210.54. The firm has a market cap of $64.14 billion, a P/E ratio of 166.42, a price-to-earnings-growth ratio of 3.52 and a beta of 1.20.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its earnings results on Friday, August 18th. The network technology company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. Palo Alto Networks had a net margin of 6.38% and a return on equity of 65.50%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business earned $0.15 earnings per share. Palo Alto Networks’s revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts predict that Palo Alto Networks will post 1.84 EPS for the current year.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on Palo Alto Networks
Insider Buying and Selling at Palo Alto Networks
In other news, CAO Josh D. Paul sold 250 shares of Palo Alto Networks stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $255.10, for a total transaction of $63,775.00. Following the completion of the sale, the chief accounting officer now directly owns 28,302 shares in the company, valued at approximately $7,219,840.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 500 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $211.00, for a total value of $105,500.00. Following the transaction, the chief accounting officer now directly owns 29,237 shares of the company’s stock, valued at approximately $6,169,007. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 250 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $255.10, for a total value of $63,775.00. Following the completion of the sale, the chief accounting officer now directly owns 28,302 shares of the company’s stock, valued at $7,219,840.20. The disclosure for this sale can be found here. Insiders have sold a total of 232,258 shares of company stock valued at $53,069,368 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
Institutional Trading of Palo Alto Networks
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd raised its stake in shares of Palo Alto Networks by 61.8% in the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after buying an additional 21 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Palo Alto Networks by 0.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock valued at $1,843,000 after purchasing an additional 23 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Palo Alto Networks by 6.5% in the 1st quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock valued at $265,000 after purchasing an additional 26 shares during the period. Penserra Capital Management LLC raised its holdings in shares of Palo Alto Networks by 6.4% in the 1st quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock worth $281,000 after buying an additional 27 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its position in shares of Palo Alto Networks by 0.9% during the 1st quarter. Wealthfront Advisers LLC now owns 4,797 shares of the network technology company’s stock worth $2,986,000 after buying an additional 41 shares during the period. 89.84% of the stock is currently owned by institutional investors and hedge funds.
Palo Alto Networks Company Profile
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 a customer's network, as well as their 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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