Is It Too Late to Buy Palo Alto Networks Stock?
Palo Alto Networks' (NYSE: PANW) stock surged 19% to an all-time high on Aug. 24 after the cybersecurity company posted its fourth-quarter earnings. Its revenue rose 28% year over year to $1.22 billion, beating estimates by $50 million. Its adjusted net income increased 12% to $161.9 million, or $1.60 per share, which also surpassed expectations, by $0.16.
Palo Alto expects its revenue to rise 26% to 28% year over year in the first quarter of fiscal 2022, and to increase 24% to 25% for the full year. Both of those estimates exceed Wall Street's estimates. Its forecast for a 2% to 4% non-GAAP (adjusted) earnings-per-share decline in the first quarter of 2021 came in below expectations, but its forecast for 16% to 18% earnings growth for the full year still exceeded analysts' estimates.
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Source Fool.com
