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Is Palo Alto Networks Stock a Buy Now?

TheMotleyFool

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Is Palo Alto Networks Stock a Buy Now?: https://g.foolcdn.com/editorial/images/721969/it-security-employee.jpg

Shares of Palo Alto Networks (NASDAQ: PANW) surged more than 12% on Feb. 22 after the company posted its latest quarterly report. For the second quarter of fiscal 2023, which ended on Jan. 31, the cybersecurity company's revenue rose 26% year over year to $1.66 billion and beat analysts' expectations by $10 million.

Its adjusted net income jumped 79% year over year to $332 million, or $1.05 per share, and topped the consensus forecast by $0.27.

On the basis of generally accepted accounting principles (GAAP), Palo Alto generated a net profit of $84 million, compared wth a net loss of $94 million a year earlier. It's been GAAP profitable on a cumulative basis over the past four quarters.

Source Fool.com

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