What's Going On With Palo Alto Networks Stock Tuesday?
Portfolio Pulse from Adam Eckert
Palo Alto Networks Inc (NASDAQ:PANW) shares rose after reporting strong financial results, authorizing a new buyback, and issuing strong guidance. The company exceeded Q4 revenue and EPS estimates, and analysts raised price targets. The board authorized an additional $500 million for share repurchases.
August 20, 2024 | 2:32 pm
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Palo Alto Networks reported better-than-expected Q4 results, authorized a $500M buyback, and issued strong guidance. Analysts raised price targets, leading to a 7.53% increase in stock price.
The company's strong financial performance, increased buyback authorization, and positive guidance have led to a significant rise in stock price. Analysts' raised price targets further support a positive short-term outlook.
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