Palo Alto's AI Momentum Makes It A Top Cybersecurity Pick, Analyst Says

Benzinga

Palo Alto Networks reported better-than-expected third-quarter results, with revenue hitting $2.29 billion and next-generation security annual recurring revenue rising 34% to $5.09 billion. The company reaffirmed its fourth quarter outlook, projecting $2.49 to $2.51 billion in revenue and EPS of $0.87 to $0.89, both in line with Street estimates. Wedbush analyst Daniel Ives maintained an Outperform rating with a $225 price target, calling Palo Alto a top cybersecurity pick. Shares were down 6.99% to $180.90 at last check Wednesday.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Palo Alto Networks reported better than expected third quarter results with revenue hitting $2.29 billion.

00:08Next generation security annual recurring revenue rising 34% to $5.09 billion.

00:13Company reaffirmed its fourth quarter outlook projecting $2.49, $2.51 billion revenue in EPS of $0.87 to $0.89, both in line with street estimates.

00:22White Bush analyst Daniel Heisman maintained an outperformer rating with a $225 price target, calling Palo Alto a top cybersecurity pick.

00:28Shares around 6.99%, $180.90, and last check on Wednesday.

00:34For all things money, visit Benzinga.com slash GSTV.

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