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Palo Alto Networks Pleases Pundits With First-Quarter Forecast

Shares of Palo Alto Networks surged on Wednesday making it TheStreet’s Move of the Day.

Shares of Palo Alto Networks surged on Wednesday making it TheStreet’s Move of the Day. The network security company issued better-than-expected sales guidance for its current quarter. The company, based in California, said it anticipates adjusted earnings of 12 cents a share, in line with analysts’ estimates, and first-quarter revenue between $178 million and $182 million. Sales guidance topped forecasts of $174 million. Palo Alto reported its fourth-quarter results Tuesday evening after the bell. Revenue over the quarter jumped 59% to just over $178 million. Shares spiked 10.6% to $98.75 a share.

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