When Palo Alto Networks (PANW) releases its results for the quarter ending in July 2024, the market anticipates that the company will report lower earnings yearly despite increased revenues. This well-known consensus outlook is crucial for evaluating the company's revenue picture. Still, the way the actual results stack up against these estimates is a significant factor that could impact the stock price shortly.
Palo Alto stock could rise if these crucial figures exceed forecasts in the next earnings report. In contrast, if they miss, the stock might drop.
PANW Is Set To Release Q4 Earnings Report
After hitting its 40-week line, PANW stock is now rising. The foundation was created when the stock fell sharply after the cybersecurity leader's poor annual guidance during a February revenue sell-off. The company's primary business, selling firewall appliances, was facing pressure on sales while it began combining products to counter price wars.
Palo Alto Networks (PANW), a cybersecurity company, is scheduled to release its fiscal Q4 2024 outcomes on August 19. Wall Street analysts anticipate that the company will report Q4 revenue of $1.41 per share, which is 2% less than last year. Analysts predict earnings of $2.16 billion, an increase of $11% from the previous year.
Even though analysts predict lower Q4 earnings than they did in the same quarter the previous year, PANW has a solid history of outperforming earnings projections. The company has beaten earnings projections in the last nine periods.
