Stocks in NEWS Spotlight: Palo Alto Networks® (NYSE: PANW)

The USA based company Palo Alto Networks® (NYSE: PANW) closed with change of 0.53% to $209.19 with the total traded volume of 1708502 shares versus to an average volume of 1.32M. The stock was up in the 5 days activity 0.02%. The one month performance of stock was 6.36%. PANW shares are at 18.34% for the quarter and driving a 50.51% return over the course of the past year and is now at 44.33% since this point in 2018.  Right now PANW beta is 0.99. The average volatility for the week and month was at 1.49% 2.08% respectively. There are 91.79M shares outstanding and 88.75M shares are floated in market.”

Palo Alto Networks® (NYSE: PANW), the global cybersecurity leader, today declared that its Board of Directors has named Nikesh Arora as its new chief executive officer and chairman of the Board of Directors, effective June 6, 2018.  He succeeds Mark McLaughlin, who is transitioning to the role of vice chairman of the Board for Palo Alto Networks.

Arora formerly served as president and chief operating officer at SoftBank and as chief business officer at Google. At Google, Arora was instrumental in growing Google’s search business from $2 billion in revenues to over $60 billion in revenues, led more than 20,000 employees, and developed a substantial track record of driving innovation and delivering business success. Arora has extensive experience in scaling technology businesses, running very large organizations, and operating globally.

McLaughlin stated: “The company is executing extremely well and is the clear leader in next-generation security. Over the course of several quarters, I have been discussing succession planning with the Board and I couldn’t be more pleased that we have found a leader in Nikesh who is ideally suited to take the company on the next leg of its journey. I look forward to working with Nikesh as we transition and serving as vice chairman of the Board.”

The company also announced the following strong fiscal third quarter 2018 results, and will hold its earnings call before the market opens on Monday, June 4th.

In the fiscal third quarter, total revenue grew 31 percent year over year to $567.1 million, product revenue grew 31 percent year over year to $215.2 million, and billings grew 33 percent year over year to $721.0 million.

Kathy Bonanno, chief financial officer commented: “We had a strong fiscal third quarter 2018 and will be reporting top line and bottom line results above all our third quarter guided ranges.”

Shares of Palo Alto Networks, Inc. have been recently spotted trading -1.19% off of the 52-week high price. On the other end, company shares have been noted 65.29% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 126.56 – 211.71. Switching over to some distances from popular moving averages, we see that the stock has been recorded 7.45% away from the 50 day moving average and 29.22% away from the 200 day moving average. Moving closer, we can see that shares have been trading 2.80% off of the 20-day moving average. 4833 employees work in the Company. It has market cap of $19.20B.

  • Jeffrey Peterson
    Jeffrey Peterson a blogger and press writer, has worked on topics like earnings reports, hot stocks and market news. He is an experienced professional with 10+ years in research, analysis and reporting. He enjoys taking complex ideas and translating them into content aimed at the general public. He has personal interests in health, fitness, animal care, gardening, travel, world politics, and current social issues, but always willing to learn something new. Jeffrey has a Masters in Applied Finance and Investment. He specializes in income trading using options, is very conservative in his style and believes patience in waiting for the best setups is the key to successful trading. He covers articles for Technology category. Email Contact: Jeffrey@stockdigest.info

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