Palo Alto Network’s stock rises more than 10% as cyber security company grows

Palo Alto Networks Inc. Shares rallied in extended session on Thursday when the cybersecurity company lost street expectations for the quarter and extended its full-year guidance for the third time in a row.

“We’ve seen strong top-line growth in Q3, which is a testament to our team’s continued implementation of capitalizing on strong cybersecurity demand trends,” said Nikesh Aurora, Palo Alto Networks PANW.
-0.51%
CEO and chairman, in a statement. “Behind this strength across our portfolio, we are again raising our guidelines for the year across revenue, billing and earnings per share.”

Palo Alto Networks has raised its full-year outlook for the third consecutive quarter, forecasting consistent earnings of $ 7.43 to $ 7.46 per share, $ 5.48 billion to $ 5.5 billion, and $ 7.11 billion to $ 7.14 billion billing. Over the last quarter, the company raised its outlook for consistent earnings from $ 7.23 to $ 7.30 per share, আগের 7.15 to 25 7.25 per share, compared to the previous forecast, and again raised its forecast for revenue and billing.

Analysts expect shares at $ 7.29 billion in revenue, $ 5.46 billion and $ 6.82 billion in billing.

Accordingly, Palo Alto Networks said it expects revenue of $ 2.26 to $ 2.29 to be consistent between $ 2.26 to $ 1.53 billion to $ 1.55 billion and billing from $ 2.32 billion to $ 2.35 billion, while analysts surveyed by Factset put পূ 2.22 billion in shares. $ 1.53 billion and $ 2.23 billion.

Shares rose more than 10% after falling 0.5% to $ 436.37 in the regular session.

For the financial third quarter, Palo Alto Networks reported a loss of $ 73.2 million, or 74 cents per share, compared to a loss of $ 145.1 million or $ 1.50 per share in the year-ago period. Adjusted earnings, excluding share-based compensation charges and other items, were $ 1.79 per share, compared to $ 1.38 per share in the year-ago period.

Revenue rose to 1.39 billion from $ 1.07 billion in the same quarter last year. The billing, which reflects future business under the agreement, is 1.8 billion compared to 1.27 billion a year ago.

Analysts forecast revenue of 1.36 billion to $ 1.68 billion and earnings of $ 1.68 billion over বিল 1.6 billion billing, while Palo Alto Networks forecast earnings of 65 1.65 to 68 1.68 per share over $ 1.35 billion to $ 1.37 billion and $ 1.59 billion to $ 1.61 billion earnings per share.

Palo Alto Networks has been out for more than a year without announcing a new acquisition, after four years of playing M&A, acquiring dozens of companies – the largest being Attack-Surface Management Company Expanse Inc. and Security Orchestration, Automation and Response Company. Demisto Inc. – For a cost of about $ 3.3 billion. In August, the company said it was no longer looking for acquisitions, a position that Aurora reiterated last quarter.

Shares of Palo Alto Network have risen 30% in the last 12 months. In comparison, ETFMG Prime Cyber ​​Security ETF Hack,
+ 0.31%
S&P 500 Index SPX down 19%,
-0.58%
5% off, and technology-heavy Nasdaq composite index comp,
-0.26%
14% less.

In December, Palo Alto Networks joined the Nasdaq 100 Index NDX,
-0.44%,
Which has decreased by more than 10% in the last 12 months.

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