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News on Medial
Palo Alto Networks sparks selloff in cybersecurity stocks with forecast cut
Reuters
·
1y ago
Medial
Palo Alto Networks saw its stock price plummet by 23% and triggered a sell-off in the cybersecurity sector after cutting its annual billings forecast. The company's decision to offer up to six months of free services to entice customers to its unified cybersecurity platform contributed to the forecast cut. Additionally, a slowdown in the company's federal government business also impacted its results. Analysts expect the stock to remain under pressure as the company transitions its strategy. At least 12 brokerages lowered their price targets on the stock.
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Palo Alto Networks in talks to buy CyberArk in deal worth over $20 billion: Report - The Economic Times
Economic Times
·
9d ago
Medial
Palo Alto Networks is reportedly in talks to acquire Israeli cybersecurity firm CyberArk Software in a deal potentially valuing over $20 billion. This news, reported by the Wall Street Journal, resulted in CyberArk shares rising by approximately 13% and a slight dip in Palo Alto Networks' stock. The deal highlights ongoing activity in the cybersecurity sector, with significant investments and acquisitions reshaping the industry landscape. Finalization could occur soon, although neither company commented on the report.
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Palo Alto in advanced talks to buy Talon and Dig in a $1B security sweep
TechCrunch
·
1y ago
Medial
Palo Alto Networks is reportedly in talks to acquire two Israeli security startups, Talon Cyber Security and Dig Security, for a combined total of around $1 billion. Talon Cyber Security has developed an enterprise browser for securing distributed workforces, while Dig Security specializes in data security across public clouds. The potential acquisitions reflect the ongoing demand for cybersecurity services and highlight the trend of larger companies acquiring smaller startups to stay ahead of evolving cyber threats. The deals could bolster Palo Alto Networks' portfolio and competitiveness in the cybersecurity market.
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CrowdStrike forecasts downbeat second-quarter revenue, shares fall
Economic Times
·
2m ago
Medial
CrowdStrike's forecast for second-quarter revenue fell short of Wall Street's expectations, leading to a 5.7% drop in shares. Weaker spending on cybersecurity by governments and enterprises amid high interest rates and inflation pressures is a major factor. The company faces competition from firms like Palo Alto Networks and Fortinet. Despite a reported $1.10 billion in first-quarter revenue, challenges include a $29 million impact from outages and related expenses, alongside macroeconomic uncertainties affecting future client spending.
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Who is Nikesh Arora? Indian origin executive who earned 2nd highest paycheck.
Livemint
·
1y ago
Medial
The Indian-origin CEO of Palo Alto Networks, Nikesh Arora, ranked second on the Wall Street Journal's list of highest-paid CEOs in the US in 2023. With a compensation of $151.43 million, Arora's earnings exceeded those of other prominent tech executives such as Mark Zuckerberg of Meta and Sundar Pichai of Google. Prior to his role at Palo Alto Networks, Arora had an impressive career at companies like Google and Softbank, where he received significant compensation packages. Palo Alto Networks justified Arora's high pay by highlighting his strong performance and the importance of retaining his talent.
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Cybersecurity firm Zscaler's shares fall on dour annual forecasts
Economic Times
·
11m ago
Medial
Zscaler's shares fell by 15.2% in premarket trading after the cybersecurity firm provided a weak annual forecast. While peers like Palo Alto Networks and SentinelOne had strong revenue forecasts, Zscaler faced challenges after a global IT outage. The company expects full-year revenue of $2.60 billion to $2.62 billion, slightly lower than analysts' estimates. Contracted billings are projected to grow 7% in 1H2025. Several brokerages reduced their price targets on the stock. However, Bernstein analysts believe demand may increase for Zscaler due to improving sales effectiveness.
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Palo Alto forecasts annual results above estimates on cybersecurity demand
Economic Times
·
11m ago
Medial
Palo Alto Networks has announced fiscal 2025 revenue and profit forecasts that exceed Wall Street estimates, highlighting increased demand for its cybersecurity products. The company's shares rose by approximately 2% after the announcement and included an additional $500 million for share repurchases. However, CEO Nikesh Arora noted that recent global IT outages have caused some customers to reconsider their options. Demand for cybersecurity products has grown due to the rise in online threats, but analysts have expressed concerns about reliance on a single vendor, as demonstrated by a recent outage linked to CrowdStrike's software update. Palo Alto will now use next-generation security annual recurring revenue as its primary financial metric for revenue projections. The company predicts annual revenue between $9.10 billion and $9.15 billion, with an adjusted profit per share between $6.18 and $6.31 for fiscal 2025. Its fourth-quarter revenue reached $2.19 billion, surpassing expectations of $2.16 billion. Rival company Fortinet also recently raised its annual revenue forecast.
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SentinelOne misses quarterly profit estimates, shares fall
Economic Times
·
8m ago
Medial
SentinelOne, a cybersecurity company, reported breakeven earnings for the third quarter, falling short of analyst expectations of a 1 cent profit per share. The company's shares dropped over 12% in after-hours trading. SentinelOne faces stiff competition from larger rivals such as Palo Alto Networks and CrowdStrike, who have also reported strong quarterly results. Despite missing profit estimates, SentinelOne raised its fiscal 2025 revenue forecast and expects fourth-quarter revenue to be $222 million, slightly above market estimates. The company's third-quarter revenue of $210.6 million surpassed expectations.
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Uber appoints Palo Alto CEO Nikesh Arora to board
Economic Times
·
2m ago
Medial
Uber has appointed Nikesh Arora, CEO of Palo Alto Networks, to its board. He will serve on the Nominating and Governance Committee and Compensation Committee. Arora has led Palo Alto Networks since 2018 and has a history with companies like SoftBank and Google. Uber’s CEO Dara Khosrowshahi praised Arora’s strategic abilities. As a board member, Arora will receive a $60,000 annual cash retainer and restricted stock units worth $300,000.
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India fastest-growing office for Palo Alto in last five years: CEO Nikesh Arora
Economic Times
·
1y ago
Medial
Palo Alto Networks, a leading cybersecurity provider, has experienced significant growth in its stock and revenues due to the increasing demand for cybersecurity products globally. CEO Nikesh Arora highlights India as the company's fastest-growing office, with a highly qualified talent pool and a booming technology market. Arora also emphasizes the expanding attack surface, which drives the need for cybersecurity, and the continuous arms race between cybercriminals and the defenders. Cybersecurity remains a prioritized investment for companies, even in challenging economic times.
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Google, SoftBank's former executive Nikesh Arora becomes billionaire
Money Control
·
1y ago
Medial
Nikesh Arora, the 55-year-old former senior executive at Google and former President of SoftBank Group, has become a billionaire, Bloomberg reported. Arora's stake in US-based cybersecurity company Palo Alto Networks, where he's currently the CEO, is now worth $830 million. Combined with pay awards he secured earlier in his career, Arora's net worth stands at $1.5 billion.
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