Palo Alto Networks Tops Estimates, Announces Stock Split | Global News Avenue

Palo Alto Networks (Pan Wei) announced better-than-expected first-quarter fiscal 2025 results and announced a 2-for-1 stock split after the market closed on Wednesday.

The cybersecurity company reported revenue of $2.14 billion in 2017. income Sales for the quarter were $1.88 billion, slightly up from $2.12 billion a year ago Analyst consensus estimates Compiled by Visible Alpha. profit $350.7 million jumped more than 80%, easily beating expectations of $272.1 million.

Chief Executive Officer (CEO) Nikesh Arora said the company noticed that its customers were realizing Its “platformization” strategy The approach of consolidating and bundling services to boost sales is a “game changer that will address security issues and enable better AI result”.

While maintaining an “outperform” rating and a $400 price target, Wedbush analysts said they believe the company’s “platform efforts are just starting to make headway as it yields a more stable platform-based trading pipeline, while Cloud penetration remains the main driver” moving forward. “

Palo Alto joins Walmart, Nvidia, Chipotle in stock splits this year

Palo Alto Networks also announced stock split This would make it the latest company to do so this year, joining Like Walmart (WMT), Chipotle Mexican BBQ (CMG), and NVIDIA (NVDA). company Carry out a stock split For a variety of reasons, including making its share price more accessible to a wider range of investors and increasing trading activity in its shares.

Palo Alto Networks will soon double its existing stock count through a 2-for-1 split, meaning shareholders of record as of Dec. 12 will receive each additional share after the market closes on Dec. 13. The shares and halved price will take effect on December 16th.

The company also raised its full-year forecast for fiscal 2025, with revenue expected to be between US$9.12 billion and US$9.17 billion, up from the previous range of US$9.10 billion to US$9.15 billion. After adjustment Earnings per share (EPS) Prices ranged from $6.26 to $6.39, up from $6.18 to $6.31.

Palo Alto shares rose 1.4% to $398.46 on Thursday, up about 35% from the beginning of the year.