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MarketScreener Homepage  >  Equities  >  Nyse  >  Palo Alto Networks, Inc.    PANW

PALO ALTO NETWORKS, INC.

(PANW)
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Palo Alto : Achieves FedRAMP 'In Process' Milestone for Zingbox IoT Guardian

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03/17/2020 | 11:01am EDT

SANTA CLARA, Calif., March 17, 2020 /PRNewswire/ -- Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, today announced that Zingbox® IoT Guardian, its IoT security product, has secured the designation of "In Process" for the Federal Risk and Authorization Management Program (FedRAMP). This important milestone will allow Palo Alto Networks to help U.S. government agencies discover, secure and optimize connected internet of things (IoT) devices.

Zingbox IoT Guardian seamlessly extends IT best practices to connected devices with automated orchestration across the full IoT lifecycle. Zingbox can help agencies identify, onboard, secure, manage, optimize and retire non-traditional edge devices — an increasingly complex process with the explosion of IoT devices.

"We are thrilled that Zingbox has secured the designation of 'In Process' with FedRAMP," said Nick Urick, vice president of Federal Sales for Palo Alto Networks and president of Palo Alto Networks Public Sector LLC. "Hundreds of U.S. government agencies trust Palo Alto Networks' cloud security services to safeguard their operations. Zingbox, our IoT security product, will help extend our public cloud management and security tools to the growing number of connected devices."

As the U.S. government increasingly embraces the cloud, the FedRAMP certification process provides assurance in the security of cloud-based products and services to government agencies through a standardized approach to security assessment, authorization and continuous monitoring. Achieving the designation of "In Process" is a key milestone for companies seeking FedRAMP certification and indicates that Palo Alto Networks is on track for Zingbox to achieve FedRAMP "Moderate" agency approval.

The FedRAMP milestones that Palo Alto Networks has achieved complement the existing products that are currently deployed in federal public cloud environments. Government organizations today are implementing Palo Alto Networks VM-Series Virtualized Next-Generation Firewalls and Prisma Cloud Compute Edition (formerly Twistlock and PureSec), part of Prisma Cloud, to secure network traffic, protect containers and help enable secure serverless deployments. Palo Alto Networks cloud-delivered services work together to consistently protect users and applications wherever they reside. U.S. agencies can safely leverage automation and elastic scale to swiftly detect, respond to and stop sophisticated cyberattacks as well as protect data across endpoints, networks or hybrid and multi-cloud environments. As a result, agencies can improve their cyber resilience by accelerating incident response and making the most of scarce cybersecurity resources. With this approach, they can better manage the increasing volume, variety and velocity of cyberattacks.

For more information about how Palo Alto Networks and its cloud products, such as Zingbox IoT Guardian, can help secure federal networks, please visit: https://www.paloaltonetworks.com/solutions/industries/government/government-federal.

About Palo Alto Networks
Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Our mission is to be the cybersecurity partner of choice, protecting our digital way of life. We help address the world's greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, we are at the forefront of protecting tens of thousands of organizations across clouds, networks, and mobile devices. Our vision is a world where each day is safer and more secure than the one before. For more information, visit www.paloaltonetworks.com.

Palo Alto Networks, Prisma, and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners.

Palo Alto Networks logo (PRNewsFoto/Palo Alto Networks, Inc.) (PRNewsfoto/Palo Alto Networks, Inc.)

 

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SOURCE Palo Alto Networks, Inc.


© PRNewswire 2020
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Financials (USD)
Sales 2020 3 353 M
EBIT 2020 551 M
Net income 2020 -234 M
Finance 2020 1 576 M
Yield 2020 -
P/E ratio 2020 -66,0x
P/E ratio 2021 -136x
EV / Sales2020 4,48x
EV / Sales2021 3,52x
Capitalization 16 598 M
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Number of Analysts 40
Average target price 223,28  $
Last Close Price 166,47  $
Spread / Highest target 83,2%
Spread / Average Target 34,1%
Spread / Lowest Target -6,89%
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Nikesh Arora Chairman & Chief Executive Officer
Amit Singh President
Kathleen Ann Bonanno Chief Financial Officer & Executive Vice President
Nir Zuk Director & Chief Technology Officer
Naveen Zutshi Chief Information Officer & Senior Vice President
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