Palo Alto Stock Price, News & Analysis

SecurityWeek will host the 2022 Cloud Security Summit virtually on June 15, 2022, focusing on securing cloud environments. Sponsored by Palo Alto Networks (PANW) and Okta (OKTA), the summit aims to equip organizations with the necessary tools and strategies to enhance cloud security. Attendees can engage with industry leaders, including Aanchal Gupta from Microsoft, who will share insights on security best practices. The event will cover topics like identity security and cloud-native security.

Palo Alto Networks launched its new campaign, "Zero Trust with Zero Exceptions," featuring actress Gillian Anderson to raise awareness of cybersecurity threats. The campaign emphasizes the urgency of implementing advanced zero trust security solutions in a rapidly changing digital landscape. CEO Nikesh Arora highlighted the need for improved security architectures to combat an expanding cyber attack surface as businesses operate from various locations and utilize cloud services. The campaign coincides with the RSA Conference and will run across digital platforms for the upcoming year.

Palo Alto Networks (PANW) announced that Oracle has selected its VM-Series Next-Generation Firewall to power the new OCI Network Firewall. This cloud-native service enhances security for Oracle Cloud Infrastructure (OCI) customers, enabling robust protection against cyber threats. Key features include centralized threat prevention and mitigation, custom URL filtering, and TLS inspection. With this collaboration, Palo Alto Networks aims to support enterprises in securing their cloud applications effectively. The OCI Network Firewall is designed to simplify security management for customers, aligning with Oracle's focus on integrated solutions.

Palo Alto Networks (NASDAQ: PANW) announced its participation in key financial community events. The management team will present at the Jefferies Software Conference on June 1, 2022, at 10 a.m. PDT, and at the BofA Securities Global Technology Conference on June 7, 2022, at 10:15 a.m. PDT. Interested parties can access additional information and live audio webcasts from the Investors section of the Palo Alto Networks website.

Palo Alto Networks (PANW) reported a strong fiscal third quarter in 2022, with revenue growth of 29% year over year, totaling $1.4 billion. Billings increased by 40% to $1.8 billion, while remaining performance obligations rose to $6.9 billion. Despite a GAAP net loss of $73.2 million, non-GAAP net income was $193.1 million, reflecting a positive trend compared to the previous year. The company raised guidance for both revenue and earnings per share for the upcoming fiscal periods, highlighting robust demand in the cybersecurity sector.

Palo Alto Networks (NASDAQ: PANW) and Deloitte announced an expansion of their strategic alliance to provide managed security services for U.S. clients. This collaboration aims to enhance cyber defense capabilities, addressing the growing demand for managed secure access service edge (SASE) and threat detection. Key offerings include Zero Trust Enterprise Enablement, Multicloud Automation, Managed Cyber Defense, and Cyber 5G security. This partnership aims to help organizations navigate cyber risks while supporting their digital transformation initiatives.

Palo Alto Networks (NASDAQ: PANW) calls for the cybersecurity industry to transition to Zero Trust Network Access 2.0 (ZTNA 2.0), addressing significant security flaws in first-generation ZTNA products. The company highlights that ZTNA 1.0 is overly permissive, risking customer security. ZTNA 2.0 enhances security through least-privileged access, continuous trust verification, and security for all applications. New capabilities for Prisma Access include a ZTNA connector and a unified SASE product, with full ZTNA 2.0 support available now.

Palo Alto Networks (NASDAQ: PANW) will announce its fiscal Q3 2022 financial results on May 19, 2022, after market close. The results cover the period ending April 30, 2022, and will be discussed in a video webcast at 1:30 PM PT. Investors can access the webcast through the company's website, with a replay available shortly after the event. The press release detailing the financial results will also be accessible prior to the webcast.