Palo Alto - PANW STOCK NEWS

Palo Alto Networks (NYSE: PANW) will announce its fiscal Q1 2021 financial results on November 16, 2020, before the U.S. market opens. The results will cover the period ended October 31, 2020. A video webcast discussing the results is scheduled for 5:00 a.m. Pacific time on the same day. Investors can access the webcast from the Investors section of the company's website, with a replay available three hours post-event and archived for one year.

Palo Alto Networks (PANW) and PwC have expanded their partnership to offer enhanced managed detection and response (MDR) services, integrating PwC's Managed Cyber Defence with Cortex XDR™. This collaboration aims to improve security for clients by leveraging global threat intelligence and advanced detection capabilities, reducing attack response times from days to minutes. The integration promises to enhance security operations and provide 24/7 coverage, benefiting organizations of all sizes and industries.

Palo Alto Networks (NYSE: PANW) has launched Prisma Cloud 2.0, enhancing its position as the industry's only comprehensive Cloud Native Security Platform (CNSP). This update introduces four new modules: Data Security, Web Application and API Security, Identity-Based Microsegmentation, and IAM Security. These innovations aim to secure multi- and hybrid-cloud environments while improving compliance and risk management. Two modules are now generally available while the others are in limited preview.

Palo Alto Networks (NYSE: PANW) has been recognized as a Leader in the 2020 Gartner Magic Quadrant for WAN Edge Infrastructure. This accolade highlights the company's commitment to innovation, particularly with its next-generation SD-WAN solution, CloudGenix. Among 17 evaluated vendors, Palo Alto's strong execution and vision have set it apart. Anand Oswal, senior vice president, expressed gratitude towards customers for their role in shaping their products and emphasized ongoing innovation in the SD-WAN and SASE solutions.

Palo Alto Networks (NYSE: PANW), a leader in cybersecurity, has been recognized as a leader in the Forrester Wave™: Zero Trust eXtended Ecosystem Platform Providers, Q3 2020. This report evaluated 15 vendors based on their current offerings, strategy, and market presence. The report highlighted that Palo Alto Networks provides a comprehensive toolkit for Zero Trust across various environments. Nir Zuk, the company's CTO, emphasized their commitment to delivering an easy-to-use, end-to-end Zero Trust solution.

Palo Alto Networks (PANW) has completed the acquisition of The Crypsis Group for approximately $265 million in cash. This strategic acquisition enhances the Cortex™ platform by integrating expert incident response and digital forensics services, allowing for improved breach management and security telemetry collection. The Crypsis Group, known for handling complex security incidents, aims to bolster Palo Alto Networks' ability to protect customers from future cyber threats. The acquisition is anticipated to support rapid response capabilities at scale.

Palo Alto Networks has launched the industry's first Next-Generation SD-WAN, addressing the growing demand for enhanced user experience and simplified management in WAN architecture. Key features include app-defined policies, autonomous operations utilizing machine learning, and cloud-delivered services. The investment is projected to yield a 243% ROI over three years. New products introduced include the ION 1000 for small offices and the high-performance ION 9000 for large campuses. Additionally, ML capabilities will aid in network operations and capacity planning.

Palo Alto Networks (NYSE: PANW) has expanded its partnership with OPSWAT to enhance secure access solutions, focusing on endpoint protection. This collaboration began in 2011, integrating the OESIS Framework Device Compliance Module into GlobalProtect and Prisma Access. The new expansion includes support for additional endpoint platforms and IoT devices, allowing for improved detection and assessment of endpoint security. This integration aims to reduce network blind spots and enforce security policies effectively as remote work becomes prevalent.

Palo Alto Networks (PANW) reported financial results for its fiscal Q4 and full year 2020, ending July 31. Total revenue surged 18% year-over-year to $950.4 million. However, the company recorded a GAAP net loss of $58.9 million ($0.61 per share), up from a loss of $20.8 million ($0.22) in the same period last year. Non-GAAP net income slightly decreased to $144.9 million ($1.48 per share). Billings accelerated by 32% year-over-year. The company anticipates Q1 2021 billings of $1.03 billion to $1.05 billion and revenue of $915 million to $925 million.