On September 2, Palo Alto Networks rose 5.5% in after-hours trading, trading at approximately $381.71 per share, with turnover of $114 million. The move was driven by a stronger-than-expected fiscal Q4 earnings report released after the close.

The company reported adjusted earnings per share of $1.02, beating the consensus estimate of $0.98 by 4.08%, representing a 7.37% year-over-year increase from $0.95. Revenue came in at $3.410 billion, surpassing the $3.352 billion estimate and reflecting approximately 32% year-over-year growth. Management also reaffirmed its commitment to achieving a 40% adjusted free cash flow margin by fiscal year 2028, reinforcing confidence in the company's long-term profitability trajectory.

The results arrived amid a strong cybersecurity earnings season, with peers CrowdStrike and Okta having previously delivered above-consensus results and raised guidance, citing AI-driven security demand as a key growth catalyst. Multiple analysts had recently raised price targets ahead of the report, including Wells Fargo to $475, Jefferies to $450, BMO and Stifel to $415, all maintaining bullish ratings.

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