Palo Alto Networks (PANW) Completes Dig Security Acquisition
Palo Alto Networks PANW revealed on Tuesday that it has completed the previously announced acquisition of Dig Security, an innovative provider of Data Security Posture Management (“DSPM”). The two companies entered into a definitive agreement in late October 2023, under which Palo Alto agreed to acquire Dig Security.
Israel-based Dig Security has developed a DSPM platform that allows organizations to discover, classify, monitor and protect sensitive data across all cloud data stores. The platform can automatically map out the data assets residing across a company’s cloud environment as well as on-premise file-sharing applications. Therefore, the acquisition of Dig Security will provide Palo Alto’s customers with enhanced visibility into and control of their multi-cloud data estate.
Dig to Boost PANW’s Prisma Cloud Capabilities
The Prisma Cloud platform brings all of Palo Alto’s cloud security solutions under one umbrella to meet the need for end-to-end networking and security solutions. This enables enterprises to better focus on business growth without worrying about security loopholes in the system.
Palo Alto Networks, Inc. Price and Consensus
Palo Alto Networks, Inc. price-consensus-chart | Palo Alto Networks, Inc. Quote
Palo Alto has integrated Dig Security’s cutting-edge capabilities into its Prisma Cloud platform. With this integration, the company has fortified Prisma Cloud capabilities, which will now be able to provide organizations with near-real-time data protection across the entire cloud estate.
Palo Alto has been continuously focusing on strengthening the Prisma Cloud platform’s comprehensive cloud security capabilities through acquisitions and the addition of new tools and features. In December 2022, the company completed the acquisition of Tel Aviv-Yafo, Israel-based company, Cider Security.
Cider Security provides application security and software supply-chain security solutions, which offer continuous integration/continuous delivery platforms from a single place. These allow IT teams to build AppSec programs more securely. Thus, Cider Security platforms help bridge the gap between security and the engineering of applications.
Prior to that, in October 2022, the company added software composition analysis tools to Prisma Cloud. By combining Cider Security’s solutions with the newly launched software composition analysis tools, Prisma Cloud will now offer the industry's most comprehensive supply-chain security solution as part of its code-to-cloud security platform.
In 2021, the company had acquired Bridgecrew. The acquisition not only strengthened the Prisma Cloud platform’s comprehensive cloud security capabilities but also made PANW the first company to provide end-to-end security across the full application lifecycle.
Zacks Rank & Stocks to Consider
Currently, Palo Alto carries a Zacks Rank #3 (Hold). Shares of PANW have surged 109.4% year to date (YTD).
Some better-ranked stocks from the broader technology sector are Intel Corporation INTC, Aspen Technology, Inc. AZPN and Datadog, Inc. DDOG. Intel sports a Zacks Rank #1 (Strong Buy) at present, while Aspen and Datadog each carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Intel’s fourth-quarter 2023 earnings has moved a penny north to 44 cents per share in the past 30 days. The consensus estimate for 2023 earnings has increased 2 cents to 95 cents in the past 30 days.
Intel's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 136.3%. Shares of INTC have surged 58.5% YTD.
The Zacks Consensus Estimate for Aspen's second-quarter fiscal 2024 earnings has moved north 14 cents to $1.49 per share in the past 30 days. The consensus estimate for fiscal 2024 earnings has increased 5 cents to $6.63 per share in the past 30 days.
Aspen's earnings missed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average negative surprise of 32.3%. Shares of AZPN have dropped 5% YTD.
The Zacks Consensus Estimate for Datadog's fourth-quarter 2023 earnings has moved north 9 cents to 43 cents per share in the past 30 days. The consensus estimate for 2023 earnings has increased 21 cents to $1.53 per share in the past 30 days.
DDOG’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 28.6%. Datadog shares have rallied 60.7% YTD.
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