Technology
What Analysts Are Saying About Palo Alto Networks After Earnings
Published:
Last Updated:
Palo Alto Networks Inc. (NYSE: PANW) reported fiscal fourth-quarter financial results after the markets closed on Tuesday. This cybersecurity firm posted relatively solid results for its fiscal fourth-quarter. However, the win in this quarter did not balance out the weaker guidance for the coming quarter. As a result, analysts adjusted their targets accordingly, although some were more positive than others.
24/7 Wall St. has included some highlights from the earnings report, as well as what analysts are saying after the release.
The company said that it had $0.50 in earnings per share (EPS) on $400.8 million in revenue, versus the consensus estimates from Thomson Reuters that called for $0.50 in EPS and revenue of $389.7 million. In the same period of last year, the company posted EPS of $0.28 and $283.88 million in revenue.
In terms of the outlook for the fiscal first quarter, the company expects to have $0.51 to $0.53 in EPS on $396 million to $402 million in revenue. Consensus estimates are calling for EPS of $0.56 and $402.23 million in revenue.
For fiscal 2017, the company expects to have EPS in the range of $2.75 to $2.80, compared to the consensus estimate of $2.64.
The board of directors authorized a $500 million share repurchase program, which is expected to expire at the end of August, 2018. Keep in mind that Palo Alto Networks has a total market cap of nearly $13 billion.
A few analysts weighed in on Palo Alto Networks after earnings were reported:
Shares of Palo Alto Networks were down 7.6% at $132.57 early Wednesday, with a consensus analyst price target of $183.58 and a 52-week trading range of $111.09 to $194.73.
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.