PANW Stock Forecast: Stock goes steady for the past 6 months. Is it a good investment?
PANW Stock Forecast: PANW has shown remarkable performance in its 1st quarter for 2023 wherein it has outperformed by its expectation for Revenue and eps by 0.79% and 20.2%.
PANW Stock Forecast: Latest news
- PANW to acquire Cider ltd – This start-up helps in reducing the manual work of developers for finding and solving the vulnerabilities in application code. TechCrunch reported that Panw will pay $200 million in cash and $100 million in stocks upon acquisition. The deal shall be closed around 2nd quarter of fiscal 2023.
PANW Stock Forecast: Latest Video
PANW Stock Forecast: Latest Target
|Overall Average||$ 214.33|
|JMP Securities||$ 208.00|
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PANW Stock Forecast: Quarter 1 earnings result 2023
- Revenue generated in 1st quarter is $1.6 billion which is same as the revenue in 4th quarter of year 2022. Whereas, deferred revenue for the year, rose up to $8.3 billion.
- Billing amount has reached to $1.7billion. It is 27% up year on year basis and 37% down by quarter on quarter growth basis.
- Net income for the 1st quarter of 2023 is $266.4 million and net income for the 4th quarter of 2022 is $254.1 million.
- Stock split in the form of Dividends was issued on 14th September.
PANW Stock Forecast: Why has the stock price surged?
Despite of macro-economic activities slowing down in the market, this company managed to strive upside by 2.56% for the past five days. NASDAQ-100 Technology Sector Index (NDXT) is constantly falling since the month of January. However, PANW has shown remarkable performance in its 1st quarter for 2023 wherein it has outperformed by its expectation for Revenue and eps by 0.79% and 20.2%. Inspite of having many of its customers run to them for cost cutting in the worsening economy, it has succeeded in grabbing investor’s attention by producing good results in 1st quarter of 2023.
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