The cybersecurity giant is up 20% this year and looks to be gathering momentum.
Palo Alto Networks delivered a robust earnings release, downplaying fears of a growth slowdown. PANW's platformization drive has reaped reignited momentum, as the worst is likely over. Palo Alto Networks is well-positioned to gain more share in the XDR market, capitalizing on CrowdStrike's recent struggles.
Shares in Palo Alto Networks (PANW) rose in premarket trading Tuesday after the cybersecurity provider released quarterly results that surpassed expectations and issued an outlook at the high end of Wall Street forecasts, as customers embraced its offerings amid growing cyber threats.
Despite a beat on headline metrics, Palo Alto Networks Inc.'s latest earnings didn't quite settle a major investor debate around its stock.
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One of Nancy Pelosi's favorite holdings, Palo Alto Network (NASDAQ: PANW), recently unveiled its Q4 earnings report on August 20, posting beat on expectations.
PANW's fiscal report beat expectations, but paying 29x forward free cash flow for mid-teen growth rates is too high. Upgraded sell rating to hold, but believe there are better opportunities in the cybersecurity sector. SentinelOne's faster growth and better valuation make it a more compelling investment compared to Palo Alto Networks.
Palo Alto Networks, Inc. (NASDAQ:PANW ) Q4 2024 Results Conference Call August 19, 2024 4:30 PM ET Company Participants Walter Pritchard - Senior Vice President, Investor Relations & Corporate Development Nikesh Arora - Chairman & Chief Executive Officer Dipak Golechha - Chief Financial Officer Lee Klarich - Chief Product Officer Conference Call Participants Saket Kalia - Barclays Hamza Fodderwala - Morgan Stanley Brian Essex - JPMorgan Andy Nowinski - Wells Fargo Gabriela Borges - Goldman Sachs Fatima Boolani - Citi Tal Liani - Bank of America Patrick Colville - Scotiabank Roger Boyd - UBS Matt Hedberg - RBC Keith Bachman - BMO Walter Pritchard Good day, everyone, and welcome to Palo Alto Networks' Fiscal Fourth Quarter 2024 Earnings Conference Call. I'm Walter Pritchard, Senior Vice President of Investor Relations and Corporate Development.
While LEI came in lower than expected earlier today, it no longer forecasts a recession in the near term.
After Palo Alto Networks reported an earnings beat on Monday, CEO Nikesh Arora told CNBC's Jim Cramer about his company's "platformization" strategy, saying it's important for the cybersecurity outfit's long-term success. "Platformization" is essentially a bundling of the company's products and services.
While the top- and bottom-line numbers for Palo Alto (PANW) give a sense of how the business performed in the quarter ended July 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Palo Alto Networks forecast fiscal 2025 revenue and profit above Wall Street estimates on Monday, a sign of growing demand for its cybersecurity products as the digital threat landscape evolves.