Palo Alto Networks, Inc. (PANW)
Palo Alto Networks Earnings Beat Expectations, Revenue Outlook In Line
Palo Alto Networks (PANW) reported quarterly earnings that beat analysts' expectations and provided revenue guidance that matched estimates.
Palo Alto (PANW) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
The headline numbers for Palo Alto (PANW) give insight into how the company performed in the quarter ended April 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Palo Alto Networks reports 15% growth in Q3 revenue: stock is still losing
Palo Alto Networks Inc (NASDAQ: PANW) is trading down in extended hours on Monday even though it came in ahead of Street estimates for its third financial quarter. Palo Alto Networks stock down in muted guidance Investors are concerned because $PANW issued somewhat of a muted guidance for the future. The cybersecurity company forecasts its revenue to fall between $2.15 billion and $2.17 billion on up to $1.42 of per-share earnings. That was only in line with analysts at $2.16 billion and $1.41 a share, respectively. Still, Nikesh Arora – the chief executive of Palo Alto Networks said in a press release today: We are pleased with enthusiastic response to platformization … a long-term strategy that addresses the increasing sophistication and volume of threats, and the need for AI-infused security outcomes. The Nasdaq-listed firm ended its Q3 with $11.3 billion in remaining performance obligation – up 23% year-over-year. Palo Alto Networks stock is now up close to 15% versus its year-to-date low. Palo Alto Networks Q3 earnings snapshot Earned $279 million versus the year-ago $108 million Per-share earnings also climbed from 35 cents to 86 cents Adjusted EPS printed $1.32 at as per the earnings report Revenue jumped 15% year-over-year to $2.0 billion Consensus was $1.25 a share on $1.97 billion in revenue $PANW saw its adjusted operating margin sit at 26% – up 200 basis points in Q3. According to Dipak Golechha – the chief financial officer of Palo Alto Networks: We have remained disciplined in our execution while investing in go-to-market and innovation … and look forward to executing against our strategic goals and financial targets as we close out the year. Last month, the multinational based out of Santa Clara, California partnered with Google on AI-enabled cybersecurity as Invezz reported here. Watch here: Click Here The post Palo Alto Networks reports 15% growth in Q3 revenue: stock is still losing appeared first on Invezz
Palo Alto Networks (PANW) Tops Q3 Earnings and Revenue Estimates
Palo Alto Networks (PANW) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $1.10 per share a year ago.
Palo Alto Networks Inc (PANW) Reports 15% Revenue Growth in Fiscal Q3 2024
On May 20, 2024, Palo Alto Networks Inc (PANW, Financial) released its 8-K filing for the fiscal third quarter of 2024, showcasing robust financial results. Palo Alto Networks, a leading cybersecurity platform provider, reported significant growth in revenue and net income, reflecting its strategic focus on platformization and innovation. Palo Alto Networks is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, and security operations. The California-based firm serves over 85,000 customers globally, including more than three-fourths of the Global 2000. For the fiscal third quarter of 2024, Palo Alto Networks reported a 15% year-over-year increase in total revenue, reaching $2.0 billion, up from $1.7 billion in the same period last year. This growth underscores the company's successful execution of its platformization strategy, which addresses the increasing sophistication and volume of cyber threats. The company's non-GAAP operating margin expanded by 200 basis points year-over-year to 26%, highlighting efficient cost management and operational discipline. GAAP net income surged to $278.8 million, or $0.79 per diluted share, compared to $107.8 million, or $0.31 per diluted share, in the prior year. Non-GAAP net income also saw a significant rise to $454.9 million, or $1.32 per diluted share, from $359.4 million, or $1.10 per diluted share, in the previous year. As of April 30, 2024, Palo Alto Networks reported total assets of $17.93 billion, up from $14.50 billion as of July 31, 2023. The company's cash and cash equivalents stood at $1.37 billion, with short-term investments amounting to $1.52 billion. Total liabilities were $13.46 billion, while stockholders' equity increased to $4.47 billion from $1.75 billion. Palo Alto Networks Inc (PANW, Financial) has demonstrated strong financial performance in the fiscal third quarter of 2024, driven by its strategic initiatives and operational efficiency. The company's robust revenue growth, expanded operating margin, and significant increase in net income highlight its ability to navigate the complex cybersecurity landscape effectively. Investors and stakeholders will be keen to monitor how Palo Alto Networks continues to leverage its platformization strategy to sustain growth and profitability in the coming quarters. Explore the complete 8-K earnings release (here) from Palo Alto Networks Inc for further details.
PANW Earnings: Palo Alto Networks Sinks despite Beating Expectations
Shares of cybersecurity company Palo Alto Networks (NASDAQ:PANW) sank in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2024. Earnings per share came in
Palo Alto Networks' stock falls after earnings as forecast fails to impress
Palo Alto Networks Inc. shares were falling in Monday's after-hours action as the cybersecurity company failed to sport much upside with its latest quarterly forecast, which bracketed the consensus view.
Palo Alto Earnings Tops Views. Guidance Underwhelms.
Palo Alto Networks reported fiscal Q3 earnings and revenue that modestly beat Wall Street targets amid lowered expectations and slowing growth in its core network firewall market.
Palo Alto Networks forecasts quarterly billings above estimates
Palo Alto Networks forecast fourth-quarter billings above Wall Street estimates on Monday, a sign that clients are turning to the cybersecurity firm for its integrated software security tools.
5 Reasons to Buy Palo Alto Networks Stock Like There's No Tomorrow
Cybersecurity products have excellent demand catalysts moving forward. Palo Alto Networks has one of the best product portfolios in the industry.
Palo Alto Networks Looks Bullish Before Earnings (Technical Analysis)
Technical analysis suggests a bullish opportunity for Palo Alto Networks at current prices. PANW is coming out of a base and is in bullish alignment with rising moving averages. Potential price targets are $380 and $500, with a stop loss at $287 for a risk to reward ratio of 1:2 and 1:6.
Palo Alto Earnings Due. Will Cybersecurity Firm Win Back Wall Street's Confidence?
Fiscal Q3 earnings for Palo Alto stock are due May 20 with expectations low. Some analysts expect long-range upside from cloud strategy, the DoD's Thunderdome project and United Healthcare data breach.
