
Palo Alto Networks, Inc. (NASDAQ:PANW) is in the spotlight Monday ahead of its fourth quarter earnings report. Here’s what you need to know.
What To Know: Analysts project earnings of 88 cents per share on revenue of $2.50 billion. The company guided revenue between $2.49 billion and $2.51 billion.
The company has a track record of topping both earnings and revenue estimates in recent quarters.
Palo Alto expects Next-Generation Security Annual Recurring Revenue of $5.52 billion to $5.57 billion. It also anticipates a remaining performance obligation of about $15.2 billion to $15.3 billion.
Analyst Changes: Ahead of the earnings report, multiple analysts issued price target adjustments.
- Rosenblatt analyst Catharine Trebnick maintained a Buy rating on Palo Alto and lowered the price target from $235 to $215.
- Deutsche Bank analyst Brad Zelnick upgraded Palo Alto from a Hold rating to a Buy rating and raised the price target from $200 to $220.
- UBS analyst Roger Boyd maintained a Neutral rating on Palo Alto and lowered the price target from $200 to $185.
- Piper Sandler analyst Rob Owens upgraded Palo Alto from a Neutral rating to an Overweight rating and raised the price target from $200 to $225.
Related Link: NIQ Global Intelligence Targets $57 Billion Market As Analysts Highlight AI, Margins
PANW Price Action: At the time of writing, Palo Alto shares are trading 1.02% lower at $175.28, according to data from Benzinga Pro.
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