) recently released its strong quarterly results, showing continued momentum for its services and the industry at large.
Noting this development is Shaul Eyal of Cowen, who noted that the firm beat Wall Street consensus estimates on its revenues, as well as its raised guidance. He attributed the growth to"solid execution into a strong demand environment with a complex threat environment as a backdrop."The analyst said that more customers have been upgrading to the platform's entire offering, and that larger, more robust deals are boosting performance for the company.
Pandemic-induced shifts toward remote work and the larger digital transformation appear here to stay, Covid-19 or not. These changes have created a favorable demand atmosphere for Palo Alto Networks. Out of over 7,000 professional analysts, Eyal ranks as No. 14. He has been accurate when rating stocks 74% of the time, and he has brought in 53.5% on average per stock pick.
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