• Sun. Sep 25th, 2022

Why Cybersecurity Stocks Are Rising After Hours

ByAdam Eckert

Aug 22, 2022
Why Cybersecurity Stocks Are Rising After Hours

Shares of several cybersecurity companies are trading higher in Monday’s after-hours session after Palo Alto Networks Inc PANW shares jumped on the company’s better-than-expected financial results. Palo Alto also issued strong guidance and announced a three-for-one stock split.

CrowdStrike Holdings Inc CRWDZscaler Inc ZS and Okta Inc OKTA are among the cybersecurity-related stocks moving after hours. 

  • PANW Revenue: $1.55 billion beat estimate of $1.54 billion
  • PANW EPS: $2.39, up from $1.60 year-over-year.

Palo Alto said it expects fiscal first-quarter revenue to be between $1.535 billion and $1.555 billion versus average analyst estimates of $1.54 billion. The company expects full-year revenue to be between $6.85 billion and $6.9 billion versus average analyst estimates of $6.74 billion.

Palo Alto also announced that its board approved and declared a three-for-one stock split in the form of a stock dividend. The record date is set as Sept. 6. Trading is expected to begin on a split-adjusted basis on Sept. 14.

See Also: After-Hours Alert: Why Palo Alto Networks Stock Is Surging

CRWD, ZS, OKTA Price Action: CrowdStrike was up 2.91% in after hours, while Zscaler was up 1.81% and Okta was up 1.72%. 

Photo: Pete Linforth from Pixabay.



Image and article originally from www.benzinga.com. Read the original article here.