Palo Alto Stock Price, News & Analysis

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.

Palo Alto Networks (PANW) has achieved Federal Risk and Authorization Management Program (FedRAMP) Moderate Authorization for its IoT Security solution, sponsored by the U.S. Department of Veterans Affairs. This achievement is crucial as federal agencies are increasingly implementing Zero Trust architectures for IoT device security. The IoT Security solution offers features like automated Zero Trust security, quick device discovery, and protection against both known and unknown threats. This authorization further strengthens Palo Alto's offerings for U.S. government customers.

Palo Alto Networks (NASDAQ: PANW) has launched the Okyo Garde Enterprise Edition, a cybersecurity solution designed to protect home networks for remote workers. This product extends the company’s Secure Access Service Edge (SASE) architecture, incorporating Prisma® Access and a Wi-Fi 6 router. Key benefits include enhanced protection for corporate networks, visibility for security teams, and ease of use for employees managing their home networks. The Okyo Garde Enterprise Edition is now available in the U.S. and Canada.

Palo Alto Networks (NASDAQ: PANW) announced achieving 100% Prevention and 100% Detection in the MITRE Engenuity ATT&CK Round 4 Evaluation. The evaluation tested Cortex XDR's effectiveness against real-world attack simulations from known threat groups, Wizard Spider and Sandworm. Cortex XDR successfully blocked all attack stages and detected all 19 steps of the simulated attacks. Key metrics included over 98% visibility of adversarial activity and reliance on industry-leading telemetry for effective threat detection. This performance underscores Palo Alto's commitment to innovation in cybersecurity.

Palo Alto Networks (NASDAQ: PANW) has partnered with Amazon Web Services (AWS) to introduce the Cloud NGFW for AWS, a managed Next-Generation Firewall service aimed at simplifying cloud security. This service allows organizations to focus on innovation while Palo Alto handles operational responsibilities. Key features include advanced URL filtering, threat prevention, and App-ID technology. It integrates seamlessly with AWS, providing easy deployment via the AWS Marketplace and high availability. This collaboration addresses the growing need for robust yet easy-to-manage cybersecurity solutions amidst increasing cyber threats.