Palo Alto Networks Earnings Preview: Decline Expected Despite Revenue Growth
Market Forecasts and Analyst Predictions
Palo Alto Networks (PANW) is expected to report a year-over-year decrease in earnings for its fiscal fourth quarter, despite an anticipated increase in revenue, according to market analysts. However, analysts believe that the company lacks the necessary combination of factors to exceed earnings expectations in its upcoming report.
Earnings and Revenue Estimations
Analysts estimate that Palo Alto Networks will report earnings per share (EPS) of $1.89, marking a decline from the $2.23 EPS reported in the same quarter last year. Revenue is expected to rise by 20.4% to $1.5 billion.
The company will release its quarterly results on Monday, August 15th, after the market closes.
Analyst Ratings and Recommendations
As of August 10th, 2023, Palo Alto Networks had an average analyst rating of "Buy" with a 12-month price target of $561.09, according to MarketBeat. Out of 30 analysts covering the stock, 22 rated it as a "Buy" or "Strong Buy," while 8 rated it as a "Hold."
It's important to note that these analyst ratings and predictions are based on their current estimates and may change as new information becomes available.
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