Palo Alto Networks (PANW) reported better-than-expected earnings for the fourth quarter of fiscal 2024, as CEO Nikesh Arora highlighted the company's "strong execution" of its platformization strategy.
Palo Alto Networks Inc (NYSE:PANW, ETR:5AP) shares moved higher after Monday's closing bell as the cybersecurity firm's outlook impressed and its latest results topped Wall Street estimates. For fiscal 2025, earnings per share (EPS) are expected to be in the range of $6.18 to $6.31, up 9% to 11% from fiscal 2024 and compared to estimates of $6.20.
Shares of Palo Alto Networks Inc. were rising 3% in Monday's after-hours action as the company's upbeat earnings report offered some relief following a dramatic stretch for the cybersecurity market.
Palo Alto Networks forecast fiscal 2025 revenue and profit above Wall Street estimates on Monday, a sign of growing demand for its comprehensive cybersecurity offerings as digital threat landscape evolves.
UPDATE—Aug. 19, 2024: This article has been updated to reflect more recent analyst estimates and share price information.
Palo Alto Networks, Inc. PANW is expected to release earnings results for its fourth quarter, after the closing bell on Monday, Aug. 19.
Palo Alto Networks Inc. PANW has become a fortress in the digital realm, offering robust solutions in network security, cloud security and security operations.
Palo Alto Networks has only split its stock one time. A stock split make it fundamentally cheaper.
Going into its Q4 FY2024 report on 19th August 2024, Palo Alto Networks stock has displayed strong technical momentum. However, PANW's recent rally has been driven by trading multiple expansion, which appears unjustified amid slowing revenue growth and an earnings decline. Despite a re-acceleration in revenues and earnings expected in FY2025, PANW stock is currently overvalued, leading to a "Hold/Neutral" rating ahead of Q4 FY2024 earnings.
An earnings option allows investors to capture possible upside gains with limited risk.
Palo Alto's (PANW) Q4 top line is likely to have benefited from the heightened demand for cybersecurity solutions, while increased software mix and better cost management are expected to have boosted margins.
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