Palo Alto Networks: A Hot Stock-Split Stock to Buy Right Now
Share prices of Palo Alto Networks (NASDAQ: PANW) shot up more than 12% after the company released fiscal 2022 fourth-quarter results (for the three months ending July 31) on Aug. 22, but the cybersecurity specialist's terrific rally wasn't just driven by an impressive set of numbers.
Palo Alto's revenue and earnings easily beat expectations, and the guidance was solid as well. But at the same time, Palo Alto management announced a 3-for-1 stock split, and that seems to have added to investors' enthusiasm. Let's take a closer look at Palo Alto's performance last quarter and check why this stock-split play could be worth buying before it soars higher.
Palo Alto's fiscal Q4 revenue increased 27% year over year to $1.6 billion. The company's adjusted earnings shot up nearly 50% year over year to $2.39 per share. The numbers exceeded Palo Alto's guidance and were ahead of Wall Street's expectations of $2.28 per share in earnings on $1.54 billion in revenue.
Source Fool.com
