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Palo Alto Networks (NASDAQ:PANW) is scheduled to announce Q2 earnings outcomes on Tuesday, February twenty first, after market shut.
The cybersecurity firm’s billings and next-generation safety annual recurring income charges had been “the celebrities of the present” in its Q1 outcomes, which prompted reward from analysts.
Palo Alto (PANW) has forecast adjusted EPS between $0.76 and $0.78 cents on income of $1.63B-1.66B. Billings is predicted to be between $1.94B and $1.99B.
The consensus EPS Estimate is $0.77 (-55.7% Y/Y) and the consensus Income Estimate is $1.65B (+25.0% Y/Y).
Over the past 3 months, EPS estimates have seen 33 upward revisions and three downward. Income estimates have seen 15 upward revisions and 14 downward.
Wedbush sees a stable quarter forward, noting some giant deal exercise within the federal vertical and “appreciable power with main expansions inside its put in base as extra enterprises transfer to the cloud with the PANW platform”.
Checks by Morgan Stanley and KeyBanc Capital Markets counsel sturdy U.S. and worldwide channel billings and bookings, wholesome demand and huge deal exercise as extra clients purchase into the broader platform.
In late 2022 Morgan Stanley listed Palo Alto Networks (PANW) amongst its prime software program picks for 2023, noting that if it stays on its present path, it might be the primary cybersecurity-specific software program firm to succeed in a $100B market cap.
Nevertheless, Piper Sandler lowered its worth goal in January noting a decrease earnings a number of as the corporate is within the technique of consolidating safety throughout networks, cloud computing and Cortex XDR.
Shares have carried out higher than friends Fortinet (FTNT), CrowdStrike (CRWD) and Zscaler (ZS) over the previous 12 months, bottoming out in January.
Buyers might want to take into account if this January backside “is powerful sufficient to maintain its bear market lows earlier than recovering its upward bias” in accordance with latest SA contributor evaluation by JR Analysis.
Over the past 2 years, PANW has crushed EPS estimates 100% of the time and has crushed income estimates 100% of the time.
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