Analysts are relieved and bullish on the cybersecurity stock after fourth quarter earnings.
Wall Street analysts are riding high after Palo Alto Networks' earnings beat. The cybersecurity firm defied expectations with a quarterly earnings beat , assuaging concerns over the company's decision to release results after the closing bell on a Friday. Shares traded more than 15% higher on Monday as Wall Street digested the report. Several analysts also lauded the results.
mountain Palo Alto Networks added more than 15% on Monday. "We maintain a Buy rating on the stock as we believe Palo Alto's combination of organic development and M & A allows it to drive durability of growth in an industry known for its rapid product cycles, and that its cross-sell strategy will drive superior unit economics over the long run," Borges said.
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