Shares of Palo Alto Networks (NASDAQ:PANW) gained in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $1.05, which beat analysts’ consensus estimate of $0.78 per share. Sales increased by 25.8% year-over-year, with revenue hitting $1.66 billion. This beat analysts’ expectations of $1.65 billion.
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Looking forward, management now expects revenue for Q3 2023 to be in the range of $2.2 billion to $2.25 billion. EPS is expected to be in the range of $0.90 – $0.94.
Overall, Wall Street has a consensus price target of $210.18 on Palo Alto Networks, implying 25.93% upside potential, as indicated by the graphic above.