What's Going On With Palo Alto Networks Stock Today?

Shares of cybersecurity firm Palo Alto Networks Inc PANW are soaring Wednesday after the company reported better-than-expected fiscal second-quarter results and issued strong earnings guidance. Several analysts also raised price targets on the stock following the company's quarterly results.

• Q2 Revenue: $1.66 billion beat estimates of $1.65 billion
• Q2 EPS: $1.05 beat estimates of $0.78

"Our focus on driving profitable growth is reflected in our Q2 results. As a result, we are raising our cash flow margin and operating profitability targets as we remain focused on driving efficiency in our business," said Dipak Golechha, chief financial officer of Palo Alto Networks.

Palo Alto sees fiscal third-quarter revenue in a range of $1.695 billion to $1.725 billion versus estimates of $1.74 billion. The company expects third-quarter adjusted earnings to be in a range of 90 cents to 94 cents per share versus estimates of 78 cents per share.

Palo Alto expects full-year revenue to be in a range of $6.85 billion to $6.91 billion versus estimates of $6.89 billion. The company sees full-year adjusted earnings between $3.97 and $4.03 per share versus estimates of $3.42 per share.

Analyst Assessment: 

• Keybanc analyst Michael Turits maintained Palo Alto with an Overweight and raised the price target from $210 to $230.
• Barclays analyst Saket Kalia maintained Palo Alto with an Overweight and raised the price target from $215 to $227.
• JP Morgan analyst Brian Essex maintained Palo Alto with an Overweight and raised the price target from $195 to $225.
• Jefferies analyst Joseph Gallo maintained Palo Alto with a Buy and raised the price target from $195 to $215.
• BMO Capital analyst Keith Bachman maintained Palo Alto with an Outperform and raised the price target from $220 to $228.
• UBS analyst Roger Boyd maintained Palo Alto with a Neutral and raised the price target from $155 to $200.

Related Link: Palo Alto Networks Gets Price Target Bumps By Analysts After Upbeat Q2 Earnings

PANW Price Action: Palo Alto has a 52-week high of $213.63 and a 52-week low of $132.22.

The stock was up 9.19% at $182.22 at the time of writing, according to Benzinga Pro.

Photo: joffi from Pixabay.