Palo Alto Networks’ stock gains ahead of earnings

Shares of Palo Alto Networks are rising Monday ahead of the cybersecurity company’s earnings report, which is due out after the closing bell.

Evercore ISI analyst Peter Levine wrote last week that he gauged “a lack of conviction into the quarter.” Investors will be looking to determine how the CrowdStrike saga impacted Palo Alto Networks’ business, as that might’ve made customers more hesitant in general about new cybersecurity spending.

“Though most (Palo Alto Networks partners) say it’s temporary, the market has been ‘spooked,'” Levine wrote.

Meanwhile, Piper Sandler’s Rob Owens wrote that “there will also be questions on the call surrounding puts and takes from the recent (CrowdStrike) outage, as (Palo Alto Networks) is a potential beneficiary that could see incremental new business as a result of the fallout.”