Sitting down for Palo Alto Networkswhich shows a decrease of 2.83%.
The Californian company specializing in cybersecurity closed on third quarter of the 2024 financial year above market expectations, but disappointed with the fourth quarter guidance considered “prudent” by professionals.
In the three months, the net profits they rebounded from $107.8 million, or 31 cents per share, to $278.8 million, (79 cents). On an adjusted basis, EPS stood at $1.32 versus the consensus of $1.25. THE revenues they are growing from 1.72 to 1.98 billion (market expectations are 1.97 billion).
Outlook: for the current quarter the company expects 2.15-2.17 billion in revenues compared to the consensus range of 2.16-3.45 billion.
The comparison of the title with the Nasdaq 100on a weekly basis, shows the greatest relative strength of cybersecurity service provider compared to the index, highlighting the concrete attractiveness of the stock by buyers.
At present the short-term scenario of Palo Alto Networks notes a sharp rise with a target of 319.8 USD. In the event of a temporary physiological correction, the most immediate target is seen at 304.7. However, expectations are for the curve to rise to the top 335.
(Photo: © funtap | 123RF)
