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Palo Alto Networks Earnings Update: Did it Beat Estimate Forecasts?

Palo Alto Networks (PANW) reported an earnings beat for its 1st quarter, ending 10/31/2022. Earnings per share came in at $0.83, versus the expected $0.69.

The reported revenue of $1.56 billion represents growth of 0.83% compared to the previous quarter, and growth of 25.33% compared to the same period last year.

For the 2nd quarter, analysts project earnings of $0.75 per share.

Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for PANW stock.

What’s Next for Palo Alto Networks, Post-Earnings?

According to TipRanks, the average analyst consensus on PANW stock is a Strong Buy. This consensus is based on 34 analyst ratings made in the past 3 months. Palo Alto Networks’ average price target of $224.09 implies upside potential of 43.13% from current levels.

See our Earnings Calendar for a full list of this week’s earnings releases.

Bottom Line

An earnings beat can signify positive movement ahead for a stock’s price. Currently, PANW price is $156.56, indicating a 5-day drop of -5.30%.

About Palo Alto Networks

California-based Palo Alto Networks, Inc., founded in 2005, is a global cybersecurity leader. The company provides network security solutions to enterprises, service providers, and government entities..

Learn more about PANW financials here

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