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

Palo Alto Networks Inc PANW shares are in the spotlight Monday ahead of earnings. Here’s what you need to know ahead of the report.

What To Know: Palo Alto is due to report financial results for its fiscal fourth quarter after the market close on Monday. The cybersecurity company is expected to report earnings of $1.41 per share on quarterly revenue of $2.162 billion, according to estimates from Benzinga Pro.

Palo Alto has exceeded analyst estimates on the top and bottom lines in three consecutive quarters heading into the print.

In the company’s most recent quarter, Palo Alto topped estimates as revenue jumped 15% year-over-year and remaining performance obligations grew 23%. The company guided for fourth-quarter revenue of $2.15 billion to $2.17 billion and fourth-quarter earnings of $1.40 to $1.42 per share.

“We are pleased with the enthusiastic response to platformization from our customers in Q3. Platformization is a long-term strategy that addresses the increasing sophistication and volume of threats, and the need for AI-infused security outcomes,” chairman and CEO Nikesh Arora said at the time.

See Also: Palo Alto Networks Feels Selling Pressure As Investors Brace For Earnings Jolt

Rosenblatt analyst Catharine Trebnick maintained Palo Alto with a Neutral rating on Monday and raised the price target from $300 to $345. Here’s a look at other recent analyst changes leading up to earnings:

• Wedbush analyst Dan Ives reiterated Palo Alto with an Outperform and maintained a price target of $375.

• Baird analyst Shrenik Kothari maintained Palo Alto with an Outperform and raised the price target from $360 to $375.

• JPMorgan analyst Brian Essex maintained Palo Alto with an Overweight and raised the price target from $340 to $365.

• Citigroup analyst Fatima Boolani maintained Palo Alto with a Buy and raised the price target from $345 to $385.

• Scotiabank analyst Patrick Colville maintained Palo Alto with a Sector Outperform and raised the price target from $337 to $385.

• UBS analyst Roger Boyd maintained Palo Alto with a Neutral and raised the price target from $300 to $345.

• Stifel analyst Adam Borg maintained Palo Alto with a Buy and raised the price target from $330 to $360.

PANW Price Action: Palo Alto shares were up 2.02% at $340.87 at the time of publication, according to Benzinga Pro.

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