24/7 Wall St.

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:

• BTIG Research reiterated Buy rating.
• RBC Capital Markets has an Outperform rating and lowered its target to $175 from $185.
• Nomura has a Buy rating and lowered its price target to $180 from $200.
• Goldman Sachs has a Buy rating and raised its price target to $175 from $165.
• Barclays has an Overweight rating and raised its price target to $200 from $184.
• Wunderlich reiterated a Buy rating with a $190 price target.
• Morgan Stanley reiterated an Overweight rating with a $185 price target.
• Raymond James reiterated an Outperform rating.
• Needham reiterated a Hold rating.
• Maxim has a Buy rating but lowered its price target to $185 from $215.
• Citigroup has an Outperform rating and lowered its price target to $165 from $180.
• Royal Bank of Canada has an Outperform rating and lowered its target to $175 from $185.

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.