Why Palo Alto Networks Stock Jumped 16% in August
Palo Alto Networks (NYSE: PANW) shareholders beat a rising market last month. The stock gained 16% in August compared to a 1.2% boost in the S&P 500, according to data provided by S&P Global Market Intelligence. The rally was due to the cybersecurity specialist's well-received earnings report.
Sales rose 28% in the fiscal fourth quarter, which marked an acceleration over the prior quarter's result while beating management's forecast. The software-as-a-service giant also notched improved profitability and strong cash flow, in part thanks to an influx of large contracts from major customers.
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Source Fool.com
