Palo Alto again narrows loss, ups revenues in record Q4
02:57, Sep 2, 2017
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Piper Jaffray Companies' price objective suggests a potential upside of 16.81% from the company's current price. Maxim Group maintained the stock with "Buy" rating in Thursday, June 1 report. They presently have a $155.00 price target on the network technology company's stock, up from their prior price target of $146.00. UBS AG restated a "neutral" rating and issued a $140.00 price target (up from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th.
"The company exceeded our expectations across the board", wrote Rosenblatt Securities analyst Marshall Senk in a research note to clients, raising his price to 160 from 148 while maintaining a buy rating.
On a similar note, analysts expect EPS of -$0.02 in September 2017 quarter and $0.01 in December 2017 quarter, representing -75% and -112.5% growth, respectively.
Among 8 analysts covering T2 Biosystems Inc (NASDAQ:TTOO), 4 have Buy rating, 1 Sell and 3 Hold.
For the full year, Palo Alto sees EPS of $3.24 to $3.34 (versus Wall Street's view of $3.27), and full-year revenues of $2.125 to $2.165 billion (analysts are looking for $2.13 billion).
"We are pleased to have ended fiscal 2017 with a record fourth quarter, including market-leading revenue growth and the highest number of new customer additions recorded in a single quarter by the company", said Palo Alto Networks CEO Mark McLaughlin. The network technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.79 by $0.92. $169's average target is 18.47% above currents $142.65 stock price. The stock's market cap is $13.36 billion. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $165.69. Alexandria Capital Limited Liability stated it has 0% of its portfolio in Palo Alto Networks Inc (NYSE:PANW). Stock traders acquired 13,736 put options on the company. This is an increase of approximately 559% compared to the typical volume of 2,084 put options. Cubist Systematic Strategies Llc stated it has 0.02% of its portfolio in Palo Alto Networks Inc (NYSE:PANW). The stock had a trading volume of 4,524,426 shares. Let's take a closer look at what Palo Alto Networks accomplished over the past few months and what investors can expect going forward. Revenue grew 27% over year-ago levels to $509.1 mln, also topping the 487.5 million Street view. On a GAAP basis, Palo Alto posted a net loss of $0.42 per share, worse than a net loss of $0.35 per share during the fourth quarter of previous year. The business's revenue for the quarter was up 27.0% on a year-over-year basis. First Republic Inv Inc has 0.08% invested in Palo Alto Networks Inc (NYSE:PANW). If you are viewing this report on another website, it was stolen and republished in violation of worldwide copyright and trademark legislation.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, August 31st.
In other news, Director James J. Goetz sold 30,000 shares of the company's stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Thrivent Fincl For Lutherans accumulated 410,437 shares or 0.23% of the stock.
Large investors have recently bought and sold shares of the stock. Flinton Capital Management LLC increased its position in shares of Palo Alto Networks by 94.8% in the first quarter.
On July 7 the stock rating was upgraded to "Buy" from "Neutral" by analysts at Citigroup. Glenmede Company Na holds 3,285 shares. Braun Stacey Associates purchased a new position in shares of Palo Alto Networks during the third quarter valued at $9,610,000. The portion of a company's profit allocated to each outstanding share of common stock was -$2.58 a share in the trailing twelve months. Finally, Endurance Wealth Management Inc. increased its position in shares of Palo Alto Networks by 33.5% in the first quarter.
A number of hedge funds have recently added to or reduced their stakes in the company. American National Bank reported 0% of its portfolio in Palo Alto Networks Inc (NYSE:PANW).
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