Palo Alto Stock Price, News & Analysis

Palo Alto Networks (NASDAQ: PANW) launched Ignite '22 in Las Vegas, from December 13-15, attracting over 2,500 cybersecurity professionals. The event celebrates ten years of Ignite, focusing on enhancing cybersecurity through advanced technologies, including Zero Trust and the latest PAN-OS 11.0 Nova, which offers significant improvements against cyber threats. Key discussions include partnerships with Google Cloud and various product innovations. The conference aims to equip organizations with the latest tools and insights for robust cyber defense.

Palo Alto Networks (NASDAQ: PANW) and Google Cloud announced a partnership to enhance cybersecurity for hybrid users with Zero Trust Network Access (ZTNA) 2.0. This solution enables secure access to applications from managed or unmanaged devices, leveraging Google Cloud's infrastructure. The collaboration merges BeyondCorp Enterprise and Prisma Access, ensuring comprehensive security and seamless user experience. This development aims to mitigate risks associated with traditional VPNs and provide deep application traffic inspection for robust protection against threats, ensuring secure remote work.

Red Canary has expanded its partnership with Palo Alto Networks (PANW) by integrating Cortex XDR, enhancing its managed detection and response (MDR) services. This integration allows Red Canary to ingest raw telemetry from all Cortex XDR data sources, improving detection capabilities and reducing false positives by up to 99%. The collaboration aims to bolster security measures against modern threats like ransomware and phishing. This partnership showcases Palo Alto Networks’ commitment to delivering superior cybersecurity solutions for its customers.

Palo Alto Networks (NASDAQ: PANW) has launched Xpanse Active Attack Surface Management, designed to help organizations manage their cyber risks more effectively. This capability offers enhanced tools for Active Discovery, Active Learning, and Active Response, enabling security teams to identify and automatically remediate vulnerabilities. The solution aims to provide real-time insights into vulnerabilities and execute remediation without human intervention. The new service is now available globally and is already being used by complex organizations, including a multiyear deal with the Department of Defense.

Palo Alto Networks (NASDAQ: PANW) has announced its new Medical IoT Security, a Zero Trust security solution aimed at protecting connected medical devices in healthcare. With 75% of smart infusion pumps showing security gaps, this solution addresses urgent cybersecurity needs. It utilizes machine learning for automated rule creation, policy enforcement, and vulnerability assessment, ensuring compliance with regulations like HIPAA. The product will be available in January 2023, promoting efficient management of thousands of devices in complex healthcare environments.

Palo Alto Networks (NASDAQ: PANW), a leader in cybersecurity, announced key presentations at two upcoming financial events. The Credit Suisse Annual Technology Conference is scheduled for November 30, 2022, at 7:15 a.m. PDT, followed by the Barclays TMT Conference on December 7, 2022, at 12:45 p.m. PDT. Investors can access a live audio webcast of these events through the Investors section of the company's website. Palo Alto Networks continues to innovate in cybersecurity, ensuring safety against evolving cyber threats.

Palo Alto Networks (NASDAQ: PANW) announced its definitive agreement to acquire Cider Security for approximately $195 million in cash. This acquisition enhances the Prisma Cloud platform's capabilities in application security and software supply chain security, addressing the growing cyber threats in today's fast-paced software development environment. The acquisition is expected to close in Q2 of fiscal 2023 and is not anticipated to materially impact the company's financials.

Palo Alto Networks (PANW) reported a strong fiscal first quarter 2023, with revenue of $1.6 billion, reflecting a year-over-year growth of 25%. Billings also rose 27% to $1.7 billion, while remaining performance obligations increased by 38% to $8.3 billion. The company achieved a GAAP net income of $20 million, compared to a net loss of $103.6 million a year prior. For the fiscal year 2023, Palo Alto raised guidance, expecting total revenue between $6.85 billion and $6.91 billion and diluted non-GAAP net income per share between $3.37 and $3.44.

Palo Alto Networks (PANW) announced a significant nine-figure, multiyear deal to provide the U.S. Department of Defense (DoD) with its next-generation Internet Operations Management capabilities, including the Cortex Xpanse platform. The deal includes an initial purchase order of $67 million for the first three years, marking one of the largest software agreements in the company's history. This partnership aims to enhance security through improved visibility and management of the DoD's internet-facing assets, addressing evolving cybersecurity threats.