What's Going On With Palo Alto Networks Stock Ahead Of Earnings?

Palo Alto Networks, Inc. PANW shares are moving Monday. The company is set to report its third-quarter financial results after the bell.

The Details:

Palo Alto Networks will host a conference call to discuss its third-quarter results at 4:30 p.m. Monday. According to estimates from Benzinga Pro, analysts expect the company to report quarterly earnings of $1.25 per share and revenue of $1.967 billion.  

Last week, the company announced a partnership with IBM to offer a comprehensive security platform underpinned by artificial intelligence. 

"The security industry is at an inflection point where AI will transform businesses and deliver outcomes not seen before. It's a moment to accelerate growth and innovation," said Nikesh Arora, chairman and CEO of Palo Alto.

Keybanc analyst Michael Turits maintained an Overweight rating on Palo Alto and raised the price target from $355 to $384 following the announcement and ahead of the print. 

According to data from Benzinga Pro, Palo Alto shares are trading above the stock’s 50-day moving average of $287.31 and below its 52-week high of $380.84.

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Will PANW Stock Go Up?

When trying to assess whether or not Palo Alto Networks will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $343.48 on Palo Alto Networks. The Street high target is currently at $385 and the Street low target is $265. Of all the analysts covering Palo Alto Networks, 27 have positive ratings, 4 have neutral ratings and no one has a negative rating.

In the last month, 5 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Palo Alto Networks have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Palo Alto Networks is 66.57% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Palo Alto Networks, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

PANW Price Action: According to Benzinga Pro, Palo Alto shares are up 0.88% at $320.77 at the time of publication Monday.

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