Palo Alto - PANW STOCK NEWS

Red Canary has expanded its partnership with Palo Alto Networks (PANW) by integrating Cortex XDR, enhancing its managed detection and response (MDR) services. This integration allows Red Canary to ingest raw telemetry from all Cortex XDR data sources, improving detection capabilities and reducing false positives by up to 99%. The collaboration aims to bolster security measures against modern threats like ransomware and phishing. This partnership showcases Palo Alto Networks’ commitment to delivering superior cybersecurity solutions for its customers.

Palo Alto Networks (NASDAQ: PANW) has launched Xpanse Active Attack Surface Management, designed to help organizations manage their cyber risks more effectively. This capability offers enhanced tools for Active Discovery, Active Learning, and Active Response, enabling security teams to identify and automatically remediate vulnerabilities. The solution aims to provide real-time insights into vulnerabilities and execute remediation without human intervention. The new service is now available globally and is already being used by complex organizations, including a multiyear deal with the Department of Defense.

Palo Alto Networks (NASDAQ: PANW) has announced its new Medical IoT Security, a Zero Trust security solution aimed at protecting connected medical devices in healthcare. With 75% of smart infusion pumps showing security gaps, this solution addresses urgent cybersecurity needs. It utilizes machine learning for automated rule creation, policy enforcement, and vulnerability assessment, ensuring compliance with regulations like HIPAA. The product will be available in January 2023, promoting efficient management of thousands of devices in complex healthcare environments.

Palo Alto Networks (NASDAQ: PANW), a leader in cybersecurity, announced key presentations at two upcoming financial events. The Credit Suisse Annual Technology Conference is scheduled for November 30, 2022, at 7:15 a.m. PDT, followed by the Barclays TMT Conference on December 7, 2022, at 12:45 p.m. PDT. Investors can access a live audio webcast of these events through the Investors section of the company's website. Palo Alto Networks continues to innovate in cybersecurity, ensuring safety against evolving cyber threats.

Palo Alto Networks (NASDAQ: PANW) announced its definitive agreement to acquire Cider Security for approximately $195 million in cash. This acquisition enhances the Prisma Cloud platform's capabilities in application security and software supply chain security, addressing the growing cyber threats in today's fast-paced software development environment. The acquisition is expected to close in Q2 of fiscal 2023 and is not anticipated to materially impact the company's financials.

Palo Alto Networks (PANW) reported a strong fiscal first quarter 2023, with revenue of $1.6 billion, reflecting a year-over-year growth of 25%. Billings also rose 27% to $1.7 billion, while remaining performance obligations increased by 38% to $8.3 billion. The company achieved a GAAP net income of $20 million, compared to a net loss of $103.6 million a year prior. For the fiscal year 2023, Palo Alto raised guidance, expecting total revenue between $6.85 billion and $6.91 billion and diluted non-GAAP net income per share between $3.37 and $3.44.

Palo Alto Networks (PANW) announced a significant nine-figure, multiyear deal to provide the U.S. Department of Defense (DoD) with its next-generation Internet Operations Management capabilities, including the Cortex Xpanse platform. The deal includes an initial purchase order of $67 million for the first three years, marking one of the largest software agreements in the company's history. This partnership aims to enhance security through improved visibility and management of the DoD's internet-facing assets, addressing evolving cybersecurity threats.

Palo Alto Networks (NASDAQ: PANW) has launched PAN-OS 11.0 Nova, featuring over 50 updates aimed at enhancing cybersecurity against evolving threats. Key innovations include the Advanced WildFire service, which offers 26% more protection against zero-day malware, and an enhanced Advanced Threat Prevention (ATP) service that detects 60% more injection attacks. Additional features include integrated web proxy capabilities, next-gen Cloud Access Security Broker, and improved AIOps for reducing misconfigurations. The solutions aim to simplify security architecture and bolster cyber hygiene for organizations.

Palo Alto Networks (NASDAQ: PANW) has been recognized as a leader in the Frost Radar report for Cloud-native Application Protection Platforms (CNAPP) 2022. Its flagship platform, Prisma Cloud, is noted for its comprehensive security capabilities covering the entire application lifecycle. As organizations increasingly shift to cloud services, Prisma Cloud secures over 1.5 billion cloud assets and processes more than 2 billion events daily. Frost & Sullivan anticipates that Palo Alto will become the largest CNAPP vendor by revenue within the next 1-3 years.