Palo Alto Stock Price, News & Analysis

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.

Deloitte has partnered with Palo Alto Networks (NYSE: PANW) to provide integrated Zero Trust and multi-cloud cybersecurity solutions for enterprise and government clients. This alliance combines Deloitte's cyber risk consulting with Palo Alto's cybersecurity platform, aiming to enhance security infrastructure for organizations transitioning to digital frameworks. Key offerings include Zero Trust enablement, potentially reducing compliance costs by up to 40% and downtime by 80%, alongside cloud security automation services designed to mitigate cyber risks in real-time.

Palo Alto Networks (PANW) announced that Orange has chosen its Prisma® Cloud as the cloud security solution amid its expansion in cloud workloads. This partnership signifies Orange's commitment to enhancing its cloud security as part of a broader data-driven transformation across 26 countries. Prisma Cloud will provide essential Cloud Security Posture Management and Cloud Workload Protection to secure Orange's operations. As organizations adopt cloud technology, the focus on security becomes paramount, and Palo Alto Networks aims to support this transition effectively.

Palo Alto Networks (PANW) and Google Cloud announced the launch of Cloud IDS, a managed network threat detection service designed to enhance security for cloud customers. This service combines Palo Alto's advanced threat detection technologies with Google Cloud's infrastructure, simplifying deployment and management for users. Over the past three years, the partnership has strengthened, leading to multiple product integrations and Palo Alto being named Google Cloud Technology Partner of the Year for three consecutive years. This initiative aims to ensure secure cloud adoption for businesses.

Palo Alto Networks has announced significant updates to its Prisma® Cloud Cloud Security Posture Management (CSPM) solution, enhancing security for over 2,000 enterprises. Key features include True Internet Exposure, Visibility-as-Code, Network Data Exfiltration Detection, Anomalous Compute Provisioning Detection, and Customizable Object-Level Scanning for AWS S3. These enhancements aim to reduce alert fatigue and improve the security of dynamic cloud environments. The updates support rapid cloud adoption by ensuring enhanced visibility and security measures.

Palo Alto Networks (NYSE: PANW) has launched Yor, an open-source tool designed to automate tagging of cloud resources within infrastructure as code (IaC) frameworks like Terraform and AWS CloudFormation. Yor enhances visibility, security, and cost allocation by standardizing tagging processes, which are essential for managing cloud assets effectively. The tool also allows organizations to retroactively assign tags based on IaC and git history, enabling improved collaboration during security incidents. Built by Bridgecrew, acquired by the company in March 2021, Yor addresses cloud security challenges, particularly concerning misconfigurations.

Palo Alto Networks (PANW) reported a fiscal Q3 2021 revenue of $1.1 billion, a 24% increase year-over-year. Despite a GAAP net loss of $145.1 million ($1.50 per diluted share), the company saw a non-GAAP net income of $139.5 million ($1.38 per diluted share), up from $114.6 million a year prior. Billings growth accelerated to 27%. For fiscal Q4 2021, guidance expects total billings between $1.695 billion and $1.715 billion and revenue of $1.165 billion to $1.175 billion. The full year guidance has also been raised, projecting total revenue of $4.20 billion to $4.21 billion.