What to Expect From Palo Alto Networks Q1 Results?
<p>Analysts at RBC Capital provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/PANW'>Palo Alto Networks, Inc. (NASDAQ:PANW) </a>ahead of Q1 results, which will be reported on Thursday. Based on positive momentum and a bullish analyst day, the brokerage expects solid Q1 results with a slight upside to consensus estimates. </p>
<p>The analysts believe upside should be driven by next-gen cloud security, which they think can help offset a lack of more material upside from license/hardware due to supply chain constraints. That said, the analysts continue to see the recent cyber-attacks, increased urgency around security/security consolidation following COVID and increased US federal spending as tailwinds for the business. The brokerage increased its price target on the company’s shares to $590 from $560, while maintaining its Outperform rating. </p>
NASDAQ:PANW