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Palo Alto Networks Stock Rises 6% After Giving Upbeat Forecast, Boosts Buybacks

$Palo Alto Networks(PANW)$ Inc. rose 3% after issuing a quarterly profit outlook that beat Wall Street’s expectations and boosting its share buyback program.Earnings for the current fiscal quarter wil

Palo Alto Networks Stock Rises 6% After Giving Upbeat Forecast, Boosts Buybacks

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Analysts had expected $1.43.</p><p>The company has attempted to refresh its sales strategy, with limited success, Bloomberg Intelligence said before the report. Despite the strategic shift, Palo Alto managed to grow its sales 12% last quarter, faster than expected. </p><p>The reported full year sales of just over $8 billion was in line with consensus expectations that were moderated after it cut its outlook earlier this year.</p><p>Wall Street remained bullish overall on the stock of the Santa Clara, California-based company ahead of Monday’s earnings, which had 40 buys, 15 holds, and zero sell ratings among analysts tracked by Bloomberg.</p><p>Palo Alto’s also announced its board approved an additional $500 million to repurchase shares, increasing the total authorization to $1 billion. </p><p>The results come as a boon for Palo Alto, one of America’s leading cybersecurity companies, which has a market capitalization of $111 billion, up from $91 billion at the start of the year. Chief Executive Officer Nikesh Arora had warned back in February that customers were suffering from “spending fatigue” in cybersecurity, as the company missed Wall Street expectations for annual sales, sending the value of the company plummeting by a record 27% at the time.</p><p>Analysts have been watching to see any impact on the cybersecurity market from the mass outages last month triggered by a flaw update from CrowdStrike Holdings Inc. That includes whether CrowdStrike customers were switching to rivals or pushing back on cybersecurity vendors in general.</p><p>Arora said in an investor call on Monday the company was “delighted” with its results, adding cybersecurity has risen up the agenda in C-suites following “a recent broad outage involving security tools.” The outage triggered by CrowdStrike impacted hospitals, airline flights and retail, placing a sharp spotlight on cybersecurity practices.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palo Alto Networks Stock Rises 6% After Giving Upbeat Forecast, Boosts Buybacks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalo Alto Networks Stock Rises 6% After Giving Upbeat Forecast, Boosts Buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-20 21:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-08-19/palo-alto-jumps-on-strong-profit-outlook-boosted-buyback><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Palo Alto Networks Inc. rose 6% after issuing a quarterly profit outlook that beat Wall Street’s expectations and boosting its share buyback program. Earnings for the current fiscal quarter will be $...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-08-19/palo-alto-jumps-on-strong-profit-outlook-boosted-buyback\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4581":"高盛持仓","IE00BZ9MQY76.HKD":"FTGF CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (HKD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4528":"SaaS概念","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","LU1923622614.USD":"Natixis Thematics Meta R/A USD","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4532":"文艺复兴科技持仓","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","BK4585":"ETF&股票定投概念","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU1923622291.USD":"Natixis Thematics Safety R/A USD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU1169590202.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"I\" (USD) ACC","LU1169589451.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"A\" (USD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","BK4550":"红杉资本持仓","BK4588":"碎股","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","PANW":"Palo Alto Networks","BK4551":"寇图资本持仓","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK4097":"系统软件","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU2433249047.HKD":"THEMATICS META \"R/A\" (HKD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4560":"网络安全概念","LU2286300806.USD":"Allianz Cyber Security AT Acc USD"},"source_url":"https://www.bloomberg.com/news/articles/2024-08-19/palo-alto-jumps-on-strong-profit-outlook-boosted-buyback","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2460060562","content_text":"Palo Alto Networks Inc. rose 6% after issuing a quarterly profit outlook that beat Wall Street’s expectations and boosting its share buyback program. Earnings for the current fiscal quarter will be $1.47 per share to $1.49 per share, the company said in a statement. Analysts had expected $1.43.The company has attempted to refresh its sales strategy, with limited success, Bloomberg Intelligence said before the report. Despite the strategic shift, Palo Alto managed to grow its sales 12% last quarter, faster than expected. The reported full year sales of just over $8 billion was in line with consensus expectations that were moderated after it cut its outlook earlier this year.Wall Street remained bullish overall on the stock of the Santa Clara, California-based company ahead of Monday’s earnings, which had 40 buys, 15 holds, and zero sell ratings among analysts tracked by Bloomberg.Palo Alto’s also announced its board approved an additional $500 million to repurchase shares, increasing the total authorization to $1 billion. The results come as a boon for Palo Alto, one of America’s leading cybersecurity companies, which has a market capitalization of $111 billion, up from $91 billion at the start of the year. Chief Executive Officer Nikesh Arora had warned back in February that customers were suffering from “spending fatigue” in cybersecurity, as the company missed Wall Street expectations for annual sales, sending the value of the company plummeting by a record 27% at the time.Analysts have been watching to see any impact on the cybersecurity market from the mass outages last month triggered by a flaw update from CrowdStrike Holdings Inc. That includes whether CrowdStrike customers were switching to rivals or pushing back on cybersecurity vendors in general.Arora said in an investor call on Monday the company was “delighted” with its results, adding cybersecurity has risen up the agenda in C-suites following “a recent broad outage involving security tools.” The outage triggered by CrowdStrike impacted hospitals, airline flights and retail, placing a sharp spotlight on cybersecurity practices.","news_type":1},"isVote":1,"tweetType":1,"viewCount":195,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":35,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}