Top Enterprise Software Stocks To Watch Ahead Of Earnings: Palo Alto Networks
Last on the list, Palo Alto Networks (PANW Stock Report) stocks are outperforming the market. They have surged higher than their pre-pandemic levels. But the question here is, will that trend continue when it announces operating results this afternoon. The company could benefit from a number of tailwinds. And these should continue to strengthen its position as a powerhouse in network- and cloud-protection.
No matter how you put it, cybersecurity is essential in every business. This is especially true for companies storing their data on the cloud. With the increasing shift to remote work amid the pandemic, the services from PANW have become a basic need to protect businesses from cyber threats. Let’s face it, you can reduce spending or postpone the upgrading of certain software, but cybersecurity? A big NO. The stolen data or any threats from hackers and cyber thefts would be more costly to deal with.
Besides, Palo Alto has been making numerous acquisitions in the cloud protection space to broaden its portfolio of solutions and appeal to more businesses. Furthermore, the company is willing to have a lower operating profit in the near term. That is to enable the company to increase its market share. And that could have a positive long term impact on the business.
