Palo Alto Networks to Report Earnings with High Expectations for Revenue Growth
Palo Alto Networks (PANW) is set to report its earnings after the market closes on Tuesday, August 28. The cybersecurity company is expected to show a revenue increase of more than 30% year-over-year and adjusted earnings per share of $0.98 for the fiscal fourth quarter. Analysts are optimistic about the results, with nine out of twelve tracked by Visible Alpha offering 'buy' recommendations. Options pricing suggests traders anticipate up to an 8.5% swing in PANW shares following the report, potentially pushing them as high as $402 or down below $339 from their recent level around $370. The stock has more than doubled this year due to easing concerns about AI disrupting cybersecurity and increased spending expectations. A strong earnings performance could further boost sentiment in the sector. UBS recently raised its price target for PANW, but noted that a challenging environment may make it harder for the company to impress after recent gains.
Topics: AI impact cybersecurity stock movement