Palo Alto Networks: A Cybersecurity Stock Worth Watching

NYSE: PANW | Palo Alto Networks, Inc.  News, Ratings, and Charts

Based in Santa Clara, California, Palo Alto Networks, Inc. (PANW) is a global cybersecurity solutions provider. The company is playing an important role in shaping the cloud-centric future, with its security solutions transforming the way people and organizations secure their data.

Its platform includes Next-Generation Firewall, which delivers application, user and content visibility and control, and protection against network-based cyber threats. It also offers a Threat Intelligence Cloud that provides central intelligence capabilities, as well as automated delivery of preventative measures against cyber-attacks.

The company delivers its solutions in three fundamental areas — Secure the Enterprise, Secure the Cloud, and Secure the Future. PANW has been recognized as a leader in The Forrester Wave: Enterprise Firewalls Q3’20, and The Forrester Wave™: Zero Trust eXtended Ecosystem Platform Providers, Q3 2020. With growing demand for its products, the company has been excelling, with significant product enhancements across its portfolio. The company’s Prisma Cloud now boasts 70% of the Fortune 100 companies as users.

The stock rallied 57.7% to close Dec. 24's trading session at $364.82, after hitting its all-time high of $375. Continued innovation, industry recognition, and market success have helped the stock earn a “Strong Buy” rating in our proprietary rating system. Here is how our proprietary POWR Ratings system evaluates PANW:

Trade Grade: A

PANW has recently been trading significantly above its 50-day and 200-day moving averages of $292.01 and $256.41, respectively, indicating an uptrend. Moreover, PANW has gained 23.2% over the past month, reflecting a solid short-term bullishness.

For the quarter ended October 2020, PANW’s revenue has increased 22.6% year-over-year to $946 million. Its billings have increased 20.7% year-over-year to $1.1 billion. Non-GAAP net income increased 50.9% year-over-year to $158.1 million, and its non-GAAP EPS increased 54.3% year-over-year to $1.62.

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