Palo Alto Network and Cisco earnings after the close

<p>Palo Alto Networks and Cisco will report earnings after the close. </p><p>For Palo Alto earnings estimates : </p><ul><li>Last quarter, Palo Alto Networks reported revenues of $1.95 billion, which was a 26% year-on-year increase but slightly below analyst expectations.</li><li>For the current quarter, analysts expect Palo Alto Networks' revenue to grow by 17.9% year on year to reach $1.84 billion, with adjusted earnings expected to be $1.16 per share.</li></ul><p>Over the past two years, Palo Alto Networks has typically exceeded revenue expectations by an average of 1.3%.</p><p>For Cisco, analysts are estimating</p><ul><li>The company anticipates Q1 fiscal 2024 revenues to be between $14.5 billion and $14.7 billion.</li><li>Non-GAAP earnings for the same period are expected to range between $1.02 and $1.04 per share.</li><li>The Zacks Consensus Estimate for Q1 revenues is $14.61 billion, indicating a 7.17% increase from the year-ago quarter.</li><li>The consensus estimate for Q1 earnings is $1.03 per share, representing a 19.77% increase compared to the prior-year quarter.</li></ul><p>Cisco's Q1 results are expected to reflect both seasonal weakness and benefits from its product portfolio and varied end-user base.</p><p>Key drivers for growth in Q1 include strong demand for products such as the Catalyst 9000 family, Cisco 8000, Wireless, Meraki, ThousandEyes, and Duo solutions.</p><p>Earlier today, Target announced its earnings and the market was impressed:</p><ul><li>Target reported earnings per share (EPS) of $2.10, exceeding the expected $1.48.</li><li>The company's revenue for the fiscal third quarter was $25.4 billion, surpassing the anticipated $25.24 billion.</li></ul><p>The shares of Target are currently up $19.70 or 17.79% at $130.49. Looking at the daily chart the prices back above its 100 day moving average at $121.51. It's a 200-day moving average is above at $138.94. The price at the end of 2022 closed at $149.04. That's a decline of -12.4%. Market traders are thinking the bottom may be in. Be aware.</p>

This article was written by Greg Michalowski at www.forexlive.com.