Palo Alto Networks (PANW) stock: is it overbought?
Palo Alto shares are up 54% year-to-date and investors continue to be optimistic about the company’s growth. The company is a leader in the cybersecurity business. Its firewalls and cloud-based services are in great demand in the modern era of business computing.
In the third quarter revenue grew 31% to $567.1 million. Product revenue grew 30% to $215.2 million, subscription revenue was up 38% to $192.5 million, and support revenue increased 25% to $159.4 million.
The company which acquired public cloud services infrastructure protection company evident.io for $300 million and Israel-based Secdo earlier this year is expected to continue with its acquisitions.
finstead.com/bite/Palo-Alto-Networks-PANW-stock-forecast-prediction-September-6-2018
In the third quarter revenue grew 31% to $567.1 million. Product revenue grew 30% to $215.2 million, subscription revenue was up 38% to $192.5 million, and support revenue increased 25% to $159.4 million.
The company which acquired public cloud services infrastructure protection company evident.io for $300 million and Israel-based Secdo earlier this year is expected to continue with its acquisitions.
finstead.com/bite/Palo-Alto-Networks-PANW-stock-forecast-prediction-September-6-2018
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