Palo Alto Stock Price, News & Analysis

Palo Alto Networks (NYSE: PANW) has introduced Multi-Cloud Drift Detection in Bridgecrew by Prisma Cloud to enhance cloud security. This feature identifies discrepancies between defined infrastructure as code and current runtime configurations, addressing a key cause of cloud breaches. Initially supporting AWS, Azure, and Google Cloud, it empowers organizations to maintain secure IT infrastructure through effective management. The solution leverages the open-source project Yor, ensuring visibility and control. Drift Detection is now available as part of the Bridgecrew platform, purchasable via Prisma Cloud Credits.

Palo Alto Networks (NYSE: PANW) has been recognized as a leader in The Forrester New Wave™: Zero Trust Network Access (ZTNA) report, Q3 2021. Among 15 evaluated vendors, Palo Alto's Prisma® Access achieved the top score in 7 out of 10 criteria, highlighting its superior support for third-party authentication, deployment flexibility, and security for non-web applications. The report confirms Prisma Access's suitability for organizations needing a hybrid SaaS and on-premises solution. The company's commitment to Zero Trust security continues to position it favorably in the cybersecurity landscape.

Palo Alto Networks announced its fiscal fourth quarter 2021 results, reporting a 28% revenue growth year-over-year to $1.2 billion, up from $950.4 million in Q4 2020. However, the company recorded a GAAP net loss of $119.3 million or $1.23 per diluted share. In contrast, non-GAAP net income stood at $161.9 million or $1.60 per diluted share, reflecting an increase from $144.9 million in 2020. For fiscal Q1 2022, guidance includes total revenue expectations of $1.19 billion to $1.21 billion, highlighting strong performance across its platforms.

Palo Alto Networks (PANW) announced the launch of Cortex XDR 3.0 on Aug. 23, 2021, enhancing its extended detection and response (XDR) solution to address cloud and identity-based threats. This update integrates security analytics across endpoints, networks, and the cloud, enabling security operations center (SOC) teams to improve threat detection and response. Cortex XDR 3.0 features include cloud monitoring, identity analytics for detecting insider threats, and advanced forensic tools, solidifying its position as a comprehensive platform against sophisticated cyberattacks.

Palo Alto Networks (NYSE: PANW) will host an Analyst Day Event on September 13, 2021, starting at 9:30 a.m. Pacific time. The event will feature CEO Nikesh Arora and the executive team discussing the company’s growth strategies, financial objectives, and capital allocation. The event will run until 12:30 p.m. Pacific time and will include a live Q&A session. Interested participants can register and access materials via the Investors section of the Palo Alto Networks website. A replay will be available the following day.

Palo Alto Networks (NYSE: PANW) has received Federal Risk and Authorization Management Program (FedRAMP) Moderate Authorization for its Prisma Access service. This certification enables the company to support U.S. government agencies in securing remote workforces amidst a permanent shift towards hybrid work models. Prisma Access ensures secure connectivity, complies with Trusted Internet Connection (TIC) 3.0, and enhances agencies' cybersecurity posture against increasing cyber threats. The authorization follows a series of security clearances and strengthens Palo Alto's commitment to federal cybersecurity.

Palo Alto Networks (NYSE: PANW) announced the expansion of its management team with Amit Singh as chief business officer and BJ Jenkins as president, effective immediately. The company reported significant momentum in the past year, with increased adoption of its Strata, Prisma, and Cortex platforms. Singh will focus on strategic customer relations, while Jenkins brings extensive cybersecurity experience from Barracuda Networks. CEO Nikesh Arora emphasized their combined expertise will strengthen the company's position amid rising cybersecurity demand.

Palo Alto Networks (PANW) has formed a multiyear partnership with Envision Virgin Racing to promote sustainability and cybersecurity. The collaboration will enhance Envision's cybersecurity solutions and feature Palo Alto branding during the Formula E Berlin E-Prix on August 14-15, 2021. Envision Virgin Racing is recognized as the first carbon-neutral Formula E team, boasting 11 wins and 33 podiums. The partnership aligns both companies' missions to combat climate change and improve digital safety, with driver Robin Frijns becoming an ambassador for Palo Alto Networks.

Palo Alto Networks (PANW) will release its fiscal fourth quarter and full year 2021 financial results on August 23, 2021, after U.S. markets close. The results will cover the period ending July 31, 2021. Following the announcement, a video webcast will take place at 1:30 p.m. Pacific time to discuss the results. Accessible on the company's website, a replay will be available three hours post-webcast and archived for one year.