Palo Alto Networks Reports Fiscal Third Quarter 2021 Financial Results
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Palo Alto Networks (PANW) Gains After Beating Q3 Views, Analyst Sees 'Bargain Valuation'
May 21, 2021 9:05 AM EDTShares of Palo Alto Networks (NASDAQ: PANW) are trading about 6% higher in early trading Friday after the company reported healthier-than-expected Q3 earnings and guidance.
The security hardware and software company posted adjusted earnings of $1.38 per share, compared to $1.28 per share expected by analysts, according to Refinitiv. Revenue came in at $1.07 billion, up from the expected $1.06 billion.
On an annualized basis, revenue climbed 24% in the second quarter which ended on April 30, and up 25% from the previous quarter. During the period, Palo Alto Networks bought a cloud security company Bridgecrew for $156 million.
"The... More
Palo Alto Networks (PANW) PT Raised to $420 at Jefferies
May 21, 2021 7:35 AM EDTJefferies analyst Brent Thill raised the price target on Palo Alto Networks (NYSE: PANW) to $420.00 (from $400.00) while maintaining a Buy rating.
... MorePalo Alto Networks (PANW) Tops Q3 EPS by 10c, Revenues Beat; Offers FY21 EPS/Revenues Guidance Above Consensus, Affirms 4Q EPS/Revenue Outlook
May 20, 2021 4:09 PM EDTPalo Alto Networks (NYSE: PANW) reported Q3 EPS of $1.38, $0.10 better than the analyst estimate of $1.28. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.06 billion.
"The work-from-home shift earlier in the year and recent cybersecurity issues have increased the focus on security. Coupled with good execution, this has driven great strength across our business, with Q3 billings growth accelerating to 27% year over year. In... More
