Palo Alto Stock Pops
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The proposed $25 billion acquisition reflects the growing importance of identity management — and would fill a crucial gap in the Palo Alto Networks portfolio.
Palo Alto Networks (NASDAQ:PANW) shares are trading higher after the company beat fourth-quarter estimates and issued strong guidance. Following the earnings release, several Wall Street analysts reiterated their positive outlook on the stock.
The company’s strong performance last quarter points to a “bright spot” in the cybersecurity and software space.
Palo Alto Networks CEO Nikesh Arora talked about growth in security, enterprise browsers and more as adoption of cloud and AI positions the cybersecurity vendor well.
CyberArk Software shares are trading higher in Monday's after-hours session after Palo Alto Networks shares popped on better-than-expected earnings.
Bank of America upgrades Palo Alto Networks after strong quarterly results, $25B CyberArk acquisition and leadership in cyber security.