Palo Alto Networks and Cisco will report earnings after the close.

For Palo Alto earnings estimates :

  • Last quarter, Palo Alto Networks reported revenues of $1.95 billion, which was a 26% year-on-year increase but slightly below analyst expectations.
  • 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.

Over the past two years, Palo Alto Networks has typically exceeded revenue expectations by an average of 1.3%.

For Cisco, analysts are estimating

  • The company anticipates Q1 fiscal 2024 revenues to be between $14.5 billion and $14.7 billion.
  • Non-GAAP earnings for the same period are expected to range between $1.02 and $1.04 per share.
  • The Zacks Consensus Estimate for Q1 revenues is $14.61 billion, indicating a 7.17% increase from the year-ago quarter.
  • The consensus estimate for Q1 earnings is $1.03 per share, representing a 19.77% increase compared to the prior-year quarter.

Cisco's Q1 results are expected to reflect both seasonal weakness and benefits from its product portfolio and varied end-user base.

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.

Earlier today, Target announced its earnings and the market was impressed:

  • Target reported earnings per share (EPS) of $2.10, exceeding the expected $1.48.
  • The company's revenue for the fiscal third quarter was $25.4 billion, surpassing the anticipated $25.24 billion.

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.