Analysts surveyed by Thomson Reuters are looking for adjusted earnings of 49 cents per share on revenue of $389.9 million for the quarter.
For the year-ago period, Palo Alto Networks posted adjusted earnings of 28 cents a share on $283.9 million in revenue.
Nomura maintained its "buy" rating on the stock ahead of the results.
The firm anticipates a "strong" revenue figure but deceleration in billings given the high year-over-year comparison. Nomura nonetheless said it is 1% ahead of consensus estimates for billings.
Shares were down in mid-afternoon trading on Friday.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
Palo Alto Networks's weaknesses include its deteriorating net income and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: PANW
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.