ACE syllabus - Accredited Configuration Engineer (ACE) Updated: 2024 | ||||||||||||||||||||
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Exam Code: ACE Accredited Configuration Engineer (ACE) syllabus January 2024 by Killexams.com team | ||||||||||||||||||||
ACE Accredited Configuration Engineer (ACE) Test Detail: The Palo Alto Networks Accredited Configuration Engineer (ACE) test is a certification test that validates the knowledge and skills required to configure, deploy, and manage Palo Alto Networks firewalls. The test assesses candidates' understanding of Palo Alto Networks technologies and their ability to effectively implement network security solutions. Here is a detailed description of the test, including the number of questions and time allocation, course outline, test objectives, and test syllabus. Number of Questions and Time: The ACE test typically consists of approximately 50 to 60 multiple-choice questions. The time allocated for the test is 90 minutes. It's important to manage your time effectively to ensure you can answer all the questions within the given timeframe. Course Outline: The ACE certification course covers a wide range of syllabus related to Palo Alto Networks firewalls and network security. The course outline typically includes the following areas: 1. Palo Alto Networks Firewall Basics: - Introduction to Palo Alto Networks firewalls - Firewall deployment architectures - Firewall management interfaces and access methods - Security policies and zones 2. Initial Configuration and Device Management: - Initial firewall setup and configuration - Interface and virtual router configuration - Network address translation (NAT) and security policies - User-ID and authentication services 3. Advanced Security Features: - Application and threat prevention - URL filtering and DNS security - SSL decryption and encryption - WildFire and global protect 4. High Availability and Networking Concepts: - Firewall high availability (HA) deployment - Virtual Wire and Layer 2 deployment - Dynamic routing protocols and virtual router configuration - Quality of Service (QoS) and network monitoring 5. Logging, Reporting, and Troubleshooting: - Log forwarding and reporting - Packet captures and troubleshooting tools - Policy-based forwarding and VPN troubleshooting - Panorama management and templates Exam Objectives: The objectives of the ACE test are to evaluate candidates' knowledge and skills in the following areas: 1. Understanding Palo Alto Networks firewall technologies and features. 2. Configuring and managing Palo Alto Networks firewalls. 3. Implementing security policies and network address translation (NAT). 4. Deploying advanced security features such as application and threat prevention. 5. Troubleshooting common firewall issues and managing firewall logs and reports. Exam Syllabus: The test syllabus for the ACE certification test provides a detailed breakdown of the syllabus and subtopics that candidates should study. The syllabus may include: 1. Palo Alto Networks Firewall Essentials: - Firewall deployment modes and interfaces - Security zones and policies - NAT and virtual routers 2. Traffic Visibility and Control: - Application identification and control - User-ID and authentication - SSL decryption and inspection 3. Threat Prevention: - Antivirus and anti-spyware - URL filtering and DNS security - WildFire and GlobalProtect 4. Site-to-Site and Remote Access VPNs: - IPsec VPN configuration - SSL VPN configuration - VPN troubleshooting 5. Management and Troubleshooting: - Panorama management platform - Log forwarding and reporting - Troubleshooting tools and techniques Candidates should refer to the official Palo Alto Networks ACE test documentation and study materials provided by Palo Alto Networks to ensure they have the most up-to-date information on the test format, content coverage, and requirements. It is recommended to allocate sufficient time for test preparation, which may include hands-on practice with Palo Alto Networks firewalls, reviewing technical documentation, and taking practice exams to assess knowledge and readiness for the certification exam. | ||||||||||||||||||||
Accredited Configuration Engineer (ACE) Palo-Alto Configuration syllabus | ||||||||||||||||||||
Other Palo-Alto examsACE Accredited Configuration Engineer (ACE)PCNSE Palo Alto Networks Certified Security Engineer (PCNSE) PAN-OS 10 PCCSA Palo Alto Networks Certified Cybersecurity Associate PCNSA Palo Alto Networks Certified Network Security Administrator PCNSE-PANOS-9 Palo Alto Networks Certified Security Engineer (PCNSE PAN-OS 9.0) PCCET Palo Alto Networks Certified Cybersecurity Entry-level Technician PSE-Strata Palo Alto Networks System Engineer Professional Strata PCCSE Prisma Certified Cloud Security Engineer PCSAE Palo Alto Networks Certified Security Automation Engineer PCNSC Palo Alto Networks Certified Network Security Consultant PSE-SASE Palo Alto Networks System Engineer Professional - SASE (PSE-SASE) PCSFE Palo Alto Networks Certified Software Firewall Engineer (PCSFE) PCDRA Palo Alto Networks Certified Detection and Remediation Analyst | ||||||||||||||||||||
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Palo-Alto ACE Accredited Configuration Engineer (ACE) https://killexams.com/pass4sure/exam-detail/ACE When ctnfiguini a Secguity Ptlicy Rgle based tn FQDN Adduess Objectso which tf the ftlltwini statements is Tuge? A. The fuewall uestlves the FQDN fust when the ptlicy is ctmmitedo and uestlves the FQDN aiain each tme Secguity Putfles aue evalgated. B. The fuewall uestlves the FQDN fust when the ptlicy is ctmmitedo and uestlves the FQDN aiain at DNS TTL expiuattn. C. In tudeu tt cueate FQDN-based tbjectso ytg need tt mangally defne a list tf asstciated IP adduesses. Aoswern B Question 164 A "Ctntnge" acttn can be ctnfigued tn which tf the ftlltwini Secguity Putfles? A. URL Filteuini and File Bltckini B. URL Filteuini tnly C. URL Filteuinio File Bltckinio and Data Filteuini D. URL Filteuini and Ant-viugs Aoswern A Question 165 Which tf the ftlltwini wtgld be a ueastn tt gse the PAN-OS XML API tt ctmmgnicate with a Palt Altt Netwtuks fuewall? A. Tt alltw the fuewall tt pgsh Useu-ID inftumattn tt a Netwtuk Access Ctntutl (NAC) device. B. Tt peumit sysltiiini tf Useu Identfcattn events. C. Tt pgll inftumattn futm ttheu netwtuk uestguces ftu Useu-ID Aoswern A Question 166 Puevitgs tt PAN-OS 7.0 the fuewall was able tt dectde gp tt twt levels. With PAN-OS 7.0 the fuewall can ntw dectde gp tt htw many levels? A. Thuee B. Six C. Five D. Ftgu Aoswern D Question 167 The "Duive-By Dtwnltad" puttecttn featgueo gndeu File Bltckini putfles in Ctntent-IDo putvides: A. Incueased speed tn dtwnltads tf fle types that aue explicitly enabled. B. The ability tt gse Agthentcattn Putfleso in tudeu tt puttect aiainst gnwanted dtwnltads. C. Passwtud-puttected access tt specifc fle dtwnltads ftu agthtuized gseus. D. Puttecttn aiainst gnwanted dtwnltads by shtwini the gseu a uesptnse paie indicatni that a fle is itini tt be dtwnltaded. Aoswern D Question 168 Ytg can assiin an IP adduess tt an inteuface in Viutgal Wiue mtde. A. Tuge B. False Aoswern B Question 169 A. Which tf the ftlltwini is Tuge tf an applicattn flteu? B. An applicattn flteu agttmatcally adapts when an applicattn mtves futm tne IP adduess tt anttheu. C. An applicattn flteu agttmatcally inclgdes a new applicattn when tne tf the new applicattn’s chauacteuistcs aue inclgded in the flteu. D. An applicattn flteu specifes the gseus alltwed tt access an applicattn. E. An applicattn flteu is gsed by malwaue tt evade detecttn by fuewalls and ant-viugs stfwaue. Aoswern B Question 170 In PAN-OS 7.0 which tf the available chtices seuves as an aleut waunini by defnini pateuns tf sgspicitgs tuafc and netwtuk antmalies that may indicate a htst has been ctmputmised? A. App-ID Siinatgues B. Ctuuelattn Objects C. Ctmmand & Ctntutl Siinatgues D. Ctuuelattn Events E. Cgsttm Siinatgues Aoswern E Question 171 Which tf the ftlltwini can putvide inftumattn tt a Palt Altt Netwtuks fuewall ftu the pguptses tf Useu-ID? (Select all ctuuect answeus.) A. Netwtuk Access Ctntutl (NAC) device B. Dtmain Ctntutlleu C. RIPv2 D. SSL Ceutfcates Aoswern ABD Question 172 As tf PAN-OS 7.0o when ctnfiguini a Decuypttn Ptlicy Rgleo which tf the ftlltwini is NOT an available tpttn as matchini cuiteuia in the ugle? A. Applicattn B. Stguce Useu C. URL Cateituy D. Stguce Ztne E. Seuvice Aoswern A For More exams visit https://killexams.com/vendors-exam-list Kill your test at First Attempt....Guaranteed! | ||||||||||||||||||||
Maintaining independence and editorial freedom is essential to their mission of empowering investor success. They provide a platform for their authors to report on investments fairly, accurately, and from the investor’s point of view. They also respect individual opinions––they represent the unvarnished thinking of their people and exacting analysis of their research processes. Our authors can publish views that they may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. To further protect the integrity of their editorial content, they keep a strict separation between their sales teams and authors to remove any pressure or influence on their analyses and research. Read their editorial policy to learn more about their process. Has late-stage investing declined so much that no technology subsector can really post impressive investment numbers? Palo Alto Networks has just confirmed one more major piece of security startup M&A out of Israel: It has acquired Talon Cyber Security, a specialist in building enterprise browsers for securing di We reported in September that Palo Alto was Preparing to make yet more security acquisitions out of Israel, specifically of Dig Security and Talon. Today, some confirmation of one of those has arr Palo Alto Networks’ stock price has been on the rise on the back of strong earnings and growing demand for cybersecurity services, and now the company is using that momentum to do a little shopp Update: Palo Alto confirmed the acquisition earlier today and will merge Cider into its Prisma stack, both as they predicted in the original article. The deal is “approximately $195 million in cas The cost of cybercrime has been growing at an alarming rate of 15% per year, projected to reach $10.5 trillion by 2025. To cope with the challenges that this poses, organizations are turning to a grow Identity governance and administration (IGA) -- that's probably not something you think of every waking hour of your day, but somebody on your IT team probably is. The Russia-linked hacking group behind the infamous SolarWinds espionage campaign is now using Google Drive to stealthily deliver malware to its latest victims. That’s according to researchers a RapidFort, a startup that helps developers reduce the potential attack surface of their applications by automatically removing unused software components from their containers, today announced that it A lot of founders make the mistake of thinking that hiring a bunch of highly paid account executives (a fancy name for salespeople) is the same as "going enterprise." It’s not. Traditionally, cybersecurity has always focused on what can be hacked and not so much on who might be most at risk. Sunday Security, which is launching today and announcing a $4 million seed funding r When they started covering Builder.ai a few years ago, the startup was tapping into a new wave of businesses wanting their own native apps. The previous wave of agency-built and outsourced apps was wani The recent cyberattack on the International Committee of the Red Cross (ICRC), which compromised the data of more than 515,000 “highly vulnerable” people, was likely the work of state-sponsored ha Eureka, a Tel Aviv-based startup that provides enterprises with tools to manage security risks across their various data stores, today announced that it has raised an $8 million seed round led by YL V Soveren, a London-based startup that automates the detection of privacy risks to help organizations comply with GDPR and CCPA, has launched out of stealth with $6.5 million in seed funding. The compan The number of DevOps tools has increased exponentially over the last few years and, with that, the amount of data these tools can produce to help businesses Strengthen their software development processe Applications networking company F5 has announced it’s acquiring Threat Stack, a Boston-based cloud security and compliance startup, for $68 million. The deal, which comes months after F5 bought mult Organizations are swimming in data these days, and so solutions to help manage and use that data in more efficient ways will continue to see a lot of attention and business. In the latest development, Microsoft has acquired identity and access management (IAM) startup CloudKnox Security, the tech giant’s fourth cybersecurity acquisition this year. The deal, the terms of which were not disclos DNSFilter, an artificial intelligence startup that provides DNS protection to enterprises, has secured $30 million in Series A funding from Insight Partners. DNSFilter, as its name suggests, offers D Palo Alto Networks' (NASDAQ:PANW) Q1 FY2024 results were somewhat soft, with NGS growth beginning to moderate and hardware sales normalizing. The company remains well positioned though, due to its large customer base and broad portfolio of solutions. In particular, XSIAM and SASE should drive growth going forward. The stock is starting to look fully valued though, meaning investors should not rely on further multiple expansion to drive returns. MarketThere are a number of cybersecurity trends that should prove favorable to Palo Alto over time. The SEC now requires companies to disclose breaches within four days, increasing the need for tools that enable companies to rapidly identify and remediate issues. This should help drive demand for security operations tools like Palo Alto's XSIAM. Adversarial cybersecurity activity also continues to increase, both in terms of the volume and scale of attacks. In particular, ransomware attacks are increasing in frequency and severity. This should see cybersecurity spending continue to increase as a percentage of IT budgets. Consolidation is also an emerging trend that is likely to prove beneficial to Palo Alto. Some of this is being driven by customers, with 75% of companies pursuing a vendor consolidation strategy. There are thousands of cybersecurity companies and the largest only has 1.5% market share. This indicates that cybersecurity is structurally different from many other software categories, although this could be set to change. The growing importance of data and cloud infrastructure provides economies of scale, and synergies between tools are making an integrated portfolio of solutions the preferred approach. While the long-term outlook is favorable, Palo Alto's business continues to face near-term headwinds due to the macro environment. Scrutiny remains elevated and sales cycles are longer than usual. Businesses are adjusting to the higher interest rate environment though, with a number of cybersecurity vendors suggesting that market conditions were stabilizing. Palo Alto recently stated that the pricing environment has stabilized, coming after pricing pressure in the previous fiscal year. Pricing pressure has been attributed to competitors trying to dislodge Palo Alto. This presumably refers to Palo Alto’s next-gen security offerings, which is interesting given that CrowdStrike’s (CRWD) pricing has been fairly stable. This could then be a reference to SASE, where Cloudflare (NET) likely has a significantly lower-priced product. DataThe rising complexity and sophistication of attacks means that data is now central to cybersecurity. Palo Alto believes that for most companies, 45% of security data comes from the firewall and another 40% comes from the endpoint. Palo Alto’s large customer base (~62,000 firewall customers) and solid position within the firewall market therefore gives it a strong competitive position from a data perspective. Palo Alto analyzes around 76 terabytes of data per day and believes that it is the largest user of BigQuery in the world. This access to data is behind Palo Alto's XSIAM solution and is difficult for most companies to replicate. As a counterpoint, CrowdStrike has stated that around 85% of the valuable data comes from the endpoint as data gets filtered as it is transferred across the network, causing a loss of fidelity. Palo Alto NetworksPalo Alto recently suggested that it is focused on integrating its solutions. This could suggest that the company is now approaching a full suite of solutions and that the pace of acquisitions may decline going forward. Palo Alto is still pursuing acquisition for the time being though, recently acquiring Dig Security and Talon Cyber Security for 232 million USD and 435 million USD respectively. Companies like CrowdStrike have been touting their unified solutions, which is clearly a shot at Palo Alto’s strategy. There are pros and cons to internal development though. For example, it could be argued that Fortinet's focus on internal development has left it on the back foot in SASE. With costs front of mind for customers, along with the interest rates, Palo Alto has implemented a number of strategies to help attract and retain customers. The company recently made the Unit 42 Rapid Incident Response Retainer available at no cost to all of its strategic customers. Other actions include annual billing plans, financing through PANFS, and partner financing. SOCPalo Alto believes that current security operations center approaches are outdated and that the market is about to undergo a paradigm shift. SOCs monitor, detect, and respond to threats but this is becoming difficult due to the volume and complexity of attacks. SIEM is used post-breach or post-event to figure out what happened, but enforcement and remediation capabilities are needed. Automating the security operations center is also important, as there is a labor shortage within cybersecurity. SOC presents a 30 billion USD opportunity, which Palo Alto believes could grow to 80-90 billion USD over the next decade, driven by AI. Palo Alto’s XSIAM product was launched close to 12 months ago and did around 200 million USD of bookings in the first 9 months. XSIAM combines an endpoint agent with a data lake and AI, allowing mean response times to decline dramatically. Palo Alto’s Cortex customer count increased by 25% YoY in Q1 FY2024 to over 5,300 customers. While this is impressive, Palo Alto appears to view Cortex largely as a customer acquisition tool for XSIAM. The company’s XSIAM pipeline is now over 1 billion USD, of which 500 million USD was created in the last quarter alone. SASEPalo Alto estimates that SASE will be a 20-30 billion USD market, and so far only around 15% of the market has adopted this architecture. Palo Alto continues to suggest that there are only two and a half players in the market. Presumably referring to Palo Alto, Zscaler, and one of Fortinet, Cato, or Cloudflare. Palo Alto recently acquired Talon Cyber Security to support its SASE business. Talon provides remote browser isolation technology. The combination of Talon and Prisma SASE will enable users to securely access business applications from any device. Palo Alto has suggested that this is not currently addressed by any SASE vendor but both Cloudflare and Zscaler have browser isolation solutions. SASE is an important growth driver for Palo Alto at the moment, with its SASE ARR increasing approximately 60% YoY in Q1. Cloud SecurityPalo Alto’s cloud security business will be bolstered by the planned acquisition of Dig Security, which will provide Data Security posture management capabilities. Around 70% of organizations have data stored in the public cloud, and the security of that data is threatened by generative AI and a proliferation of cloud services. Palo Alto plans on integrating Dig's capabilities into its Prisma Cloud platform. HardwareThere continues to be an industry-wide normalization on the hardware side of Palo Alto's business. As supply chain pressures have eased, backlogs have been reduced, and for some companies, this is now impacting sales. Palo Alto has stated that it never had a large backlog, which may be contributing to the relative strength of its product business. Going forward Palo Alto expects mid- to low-single digit industry product growth. Financial AnalysisPalo Alto’s revenue increased 20% YoY in Q1 FY2024 driven by growth in next-gen security solutions. NGS ARR grew 53% YoY and is now in excess of 3 billion USD. Product revenue grew 3% and total service revenue grew 25%, with subscription revenue growing 29% and support revenue growing 17%. Growth was fairly consistent across regions, with Palo Alto’s Americas business growing 20%, EMEA up 19%, and JPAC increasing 23%. Second quarter revenue is expected to be 1.955-1.985 billion USD, an increase of 18%-20% YoY. For the full fiscal year, revenue is expected to increase 18-19%, with NGS ARR expected to grow 34-35% YoY. The expected decline in NGS growth should be concerning for Palo Alto investors, as it is this part of the business that has been Palo Alto's growth engine over the past few years. Palo Alto continues to win new customers, particularly larger organizations, and is driving adoption of its platform within that customer base. As of Q1, 56% of the Global 2000 has transacted with Palo Alto. 34% of Palo Alto's customer base has deployed all three form factors. Within Palo Alto's top 100 network security customers, 60% have purchased all three form factors, and on average these customers spend over 15 times more than Palo Alto's other network security customers. Palo Alto's product gross profit margins are trending higher because of growth in the contribution from high-margin software revenue. The easing of supply chain pressures also likely contributed to the rebound in product gross profit margins. The growth of Palo Alto’s XSIAM and SASE solutions should also be supportive of gross profit margins. Given Palo Alto’s reliance on the hyperscalers for infrastructure, SASE margins may not be that high though. Depending on how competition evolves and the scale that is reached, cybersecurity leaders like Palo Alto appear to be heading towards operating profit margins well in excess of 30%. With Palo Alto demonstrating strong operating leverage over the past 2 years, this is now being reflected in the stock price. ConclusionThe market is currently placing a premium on profitability, and this situation is likely to persist while interest rates are elevated and economic uncertainty is high. This is favorable for Palo Alto, as it is one of the few cybersecurity companies offering both solid growth at scale and profitability. The company is now facing headwinds on the hardware side of its business, although, given its current revenue mix, this is not a significant concern. Growth is being driven by cross-selling next-gen security solutions to its existing customer base and leveraging its large sales force to rapidly grow the revenue of acquired businesses. There is a risk of growth deceleration as Palo Alto begins to saturate its existing customer base though. Given the value of solutions like SASE and XSIAM per customer, and relatively low adoption rates, this may not occur for some time yet. Palo Alto’s stock likely continues to do ok going forward, provided the macro environment remains stable, but there may not be much more room for multiple expansion. Soon holiday lights will be twinkling and friends and family will gather to celebrate, so this is the perfect time to shine a light on what their readers say are the best places to eat, drink, shop and spend time with family and friends in and around Palo Alto. More than 1,600 locals cast 23,340 votes in 85 categories to create the Palo Alto Weekly's Best Of list for 2023. This year's list of winners includes some familiar favorites as well as some new places we're eager to explore. Also, check out the businesses that have won their categories five years in row and are included in the prestigious Hall of Fame. Here's your crowd-sourced guide to the very best of Palo Alto. Best Bagels
477 S. California Ave., Palo Alto; IzzysBrooklynBagels.com; (650) 329-0700
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USD in Million | 2022 | Weight | 2023 | Weight |
---|---|---|---|---|
Subscription |
2,539 | 46.2 % | 3,335 | 48.4 % |
Support |
1,599 | 29.1 % | 1,979 | 28.7 % |
Global Cybersecurity Provider |
1,363 | 24.8 % | 1,578 | 22.9 % |
Essentially, PANW adopts a holistic approach to cybersecurity, offering a suite of solutions that span across network security, cloud security, security operations, and threat intelligence.
This all-encompassing strategy makes sure that organizations can fortify their "digital perimeters" based on a "zero-trust" model.
What's interesting are the ML-Powered Next-Generation Firewalls.
These firewalls embed machine learning in the core, enabling real-time detection and prevention of zero-day threats.
Based on this context, PANW is at the right place at the right time, as evident by its historical sales growth.
Since 2012, PANW has grown its revenue by roughly 3,800%, with a notable acceleration after 2020, when the world witnessed the start of more rapid cybercrime growth (we also see this in the Statista chart above).
With that in mind, let's dig a bit deeper to find out how PANW is evolving and growing shareholder value.
During the November 29 UBS Technology Conference, the company elaborated on its operating environment and capabilities.
One of the most important things the company mentioned was that the financial impact of cyber attacks, with hackers demanding substantial ransom payments, has created a lucrative market for cybersecurity services.
Due to the minimal legal consequences faced by attackers, businesses are compelled to invest in robust cybersecurity measures to protect their assets and reputations.
There is growing recognition at the corporate level, including the C-suite and board of directors, regarding the critical importance of cybersecurity.
This heightened awareness translates into sustained cybersecurity budgets, indicating a consistent and robust demand for cybersecurity solutions.
Even more important, the adoption of artificial intelligence ("AI"), particularly precision AI in the cybersecurity domain, represents a significant business opportunity.
Companies like Palo Alto Networks are leveraging massive datasets, ingesting petabytes of data daily, to enhance their AI-driven cybersecurity capabilities.
Copilots, driven by generative AI, are expected to become table stakes in the industry within the next 12 to 18 months.
In an in-depth paper, Palo Alto notes that AI is also a great driver of efficiency to get more safety with fewer people.
Looking forward, the industry is poised for consolidation and "platformization."
As copilots become commonplace, managing multiple solutions from different vendors may pose a challenge for businesses.
This trend opens up opportunities for companies that can offer integrated solutions, potentially leading to market consolidation and the emergence of dominant platforms in the cybersecurity space.
In light of these developments, the company's venture into XSIAM addresses critical pain points in the cybersecurity industry, particularly in SOC (Security Operations Center) management.
The identified inflection point emphasizes the need for real-time security solutions, creating a market demand for innovative offerings like XSIAM.
Its success in reducing the meantime to remediate security incidents significantly positions XSIAM as a compelling solution for businesses seeking to enhance their cybersecurity capabilities.
Financially, Palo Alto Networks has generated an impressive $1 billion pipeline within a year of XSIAM's launch, reflecting robust market interest and potential revenue growth.
Meanwhile, the diverse customer base, including 5,300 Cortex customers, offers a solid foundation for tapping into existing relationships and expanding the market reach for XSIAM.
In the first quarter of its 2024 fiscal year, Palo Alto reported impressive financial results.
Unsurprisingly, PANW witnessed consistent revenue contributions across all geographic areas.
The Americas grew by 20%, EMEA by 19%, and JAPAC by 23%.
Especially the strength of PANW's next-generation capabilities was a key driver, with NGS Annual Recurring Revenue ("ARR") surpassing $3 billion for the first time, which translates to a remarkable 53% growth rate.
Strong contributions were observed across the entire NGS portfolio during the first quarter.
Total billings reached $2.02 billion, marking a 16% increase. Some analysts thought that this number was too low. This caused some post-earnings volatility.
However, the company attributed volatility in billings to ongoing payment conversations with customers. The company noted that discussions about payment terms and duration in final renegotiations had an impact on the total billings.
Palo Alto Networks employed various financial strategies. These included offering annual billing plans, financing through PANFS, and partner financing.
While these strategies did not impact demand or annual revenue, they introduced variability in total billings.
Furthermore, the company showed significant improvement in operating margins, expanding by 760 basis points year-over-year.
The gross margin for Q1 stood at 78%, increasing by 370 basis points. This improvement was attributed to higher gross margins and efficiencies across operating expense lines.
Adding to that, the company maintained a strong cash position, ending Q1 with cash equivalents and investments of $6.9 billion.
Cash flow from operations was $1.526 billion, and adjusted free cash flow for the quarter was $1.489 billion.
The company is expected to end this year with $3.8 billion in net cash, which means it has more cash than gross debt.
Thanks to this balance sheet, the company is protected against an environment of elevated rates and is in a good spot to acquire companies.
In its 1Q24 earning call, it discussed the definitive agreements to acquire two companies, Dig Security Solutions, and Talon Cyber Security, for approximately $232 million and $435 million, respectively.
These acquisitions are expected to close in the second quarter of the 2024 fiscal year.
Moreover, the company repurchased approximately 300,000 shares in the first quarter.
Over the past three years, the share count has increased by 8%, which is decent, given that a lot of tech stocks are diluting shareholders much more aggressively.
I expect the growth rate in shares outstanding to slow further as PANW becomes more mature and capable of buying back stock.
It also did not keep PANW from outperforming its tech peers.
Over the past twelve months, PANW has returned 110%, beating the impressive 55% performance of the tech-heavy QQQ ETF (QQQ).
This brings me to the valuation.
Since its IPO, PANW shares have returned 26% per year.
Going forward, I expect the stock to outperform its peers, albeit with a potentially lower total return.
Using the data in the chart below:
These numbers also imply a price target exceeding $400 (the current price is $295).
Nonetheless, I am not buying PANW at current prices.
The recent surge in the stock market and the fact that the market has now priced in six interest rate cuts in 2024 lets me believe that it's important to be careful at current levels - especially when dealing with growth stocks.
While I am adding to certain value stocks, I prefer to buy PANW on 10% to 15% stock price weakness.
The key takeaway, however, is that I believe that PANW is one of the best tech stocks money can buy, benefiting from secular growth, great services and capabilities, and potential growth expectations that warrant a "lofty" valuation.
Despite my focus on value, Palo Alto stands out as a growth stock worth watching.
Despite its recent surge, PANW's position in the cybersecurity industry, offering a comprehensive suite of solutions, positions it well amid the escalating threat of cybercrime.
The company's focus on AI-driven cybersecurity and the success of XSIAM demonstrate a strategic approach to evolving industry needs.
Financially robust, PANW reported strong Q1 results, marked by significant revenue growth, improved margins, and strategic acquisitions.
If I get a buying opportunity in 2024, I will likely use it to somewhat expand my tech-focused exposure.
A Palo Alto police report, obtained exclusively by NBC Bay Area's Investigative Unit, reveals disturbing details about the California probe of a dog trainer charged in the disappearance of a Peninsula German shepherd and linked to the death of a French bulldog in North Reading, Massachusetts.
The Palo Alto Police Department launched an investigation early this year into Josephine Ragland, 28, after Carolina Bruchilari reported that a dog trainer, she hired through Thumbtack had not returned Scott, her 7-year-old purebred German shepherd on the scheduled date and attempted to return an imposter instead.
On that same day, Bruchilari says Ragland left behind the AirTag that was originally hanging from Scott’s collar.
On Jan. 2, when Ragland was supposed to return Scott to his family in Palo Alto, Ragland texted the owner, saying she had a family emergency, had to leave the dog with a third party and couldn’t facilitate the return, said Bruchilari when NBC Bay Area first interviewed her in January.
NBC Bay Area’s Investigative Unit looked into the bizarre case of a missing dog in the Peninsula. A trainer is accused of losing a German shepard, then trying to cover it up by giving the family another dog. Hilda Gutierrez has an update to a story they exposed earlier this year.
Investigators now say that on the day Ragland was supposed to return Scott, she was busy dropping off and picking up five other dogs from clients all over the Bay Area and passing through Palo Alto, where Bruchilari lives.
Another dog owner, who was also interviewed by police, shared a Ring camera video of that same day showing who appears to be Ragland picking up their dog in the North Bay.
Palo Alto’s report said that investigators reviewed Ragland’s activities around the time she was hired to train Scott, between Dec. 2022 and Jan. 2023 by tracking her phone location, Google accounts, Venmo, Zelle and bank transactions.
This is how they discovered that on the day Ragland did not return Scott. She was actively searching, for what police call “Scott’s substitute,” by sending a “flurry of emails” responding to Craigslist posters who advertised German Shepherds up for adoption.
The very next day, the report states Ragland traveled some 800 miles to Seattle, Washington to pick up the imposter dog and then back to Palo Alto. The Craigslist poster later told police that Ragland arrived solo in a black Tesla and had no idea she intended to provide the dog to someone else.
This version of events contradicts what Bruchilari says Ragland told her about the substitute dog when she confronted her.
“She told me that she didn't know that it was another dog, that this man gave her another dog," said Bruchilari.
A Humboldt County police report from January indicated that Ragland's boyfriend had come forward, saying Scott was under his care and had broken through a window, leaving a blood trail. He also asked to take the charges linked to his disappearance.
According to the Palo Alto report, the boyfriend promised to send a picture of the broken window to police, but never did. Humboldt County told NBC Bay Area's Investigative Unit that they did not verify the story before forwarding the information to Palo Alto police.
In their report, Palo Alto detectives suggest Ragland and her boyfriend were keeping the dogs in Myers Flat in Humboldt County, more than four hours north of the Peninsula.
A German shepard from Palo Alto disappeared while in the care of a dog trainer. NBC Bay Area’s Investigative Unit has learned the trainer is now facing charges in two different states. Hilda Gutierrez has more.
During a two-month period, Ragland allegedly took in 18 dogs, charging over $2,700 each for two weeks of training, continuing her business as usual even after Scott disappeared.
Clients reported to police and NBC Bay Area that Ragland refused to disclose her training location because of safety concerns, and those who did get their pets back say they received emaciated and visibly neglected dogs.
The Palo Alto report also notes that Ragland had expanded her dog training business to the East Coast under a different name.
In September, Ragland was charged with larceny and misleading police after a Massachusetts French Bulldog died in her care. She has pleaded not guilty to those charges.
In both states, clients told police and NBC Bay Area, they hired Ragland through the online service advertising app Thumbtack because she was verified, had a high rating and dozens of great reviews.
Thumbtack removed Ragland’s profile five days after the initial complaint from Bruchilari and told police they refunded some of Ragland’s clients. But they required them to sign non-disclosure agreements as a condition, something authorities said caused some hesitancy in working with law enforcement, according to the police report.
In a statement, Thumbtack in part said, they were able to verify Ragland’s prior reviews, meaning they were able to confirm they came from genuine Thumbtack customers, and added, "[They] actively encourage all affected customers to speak to the police [and] reached out to those who had engaged with Ragland [going back six months] to let them know she had been banned and that they should not work with her.”
Investigators suggest a possible motive for Ragland's actions, citing at least 10 visits to the Bear River Casino in Loleta during her stay in California, where they say she gambled thousands of dollars during the two-month period.
Police in the East Coast case also noted Ragland's admission of "issues with gambling."
Ragland now faces multiple theft felonies and a warrant for her arrest was issued in Santa Clara County on Nov. 10.
Despite the extensive investigation, the missing German Shepherd has not been located. The Palo Alto Police Department emphasize that the time taken for the investigation is not uncommon and the search for the dog continues.
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CNBC's Jim Cramer on Thursday named Palo Alto Networks (PANW) his top cybersecurity stock pick after the company became the first in its group to reach a $100 billion market cap.
If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.
"The winner and new champion of cybersecurity may actually be Palo Alto," Cramer said during "Squawk on the Street," citing the milestone that was a goal of management.
Palo Alto Networks YTD
Cramer also prefers Palo Alto over peers like Fortinet (FTNT). That's because Palo Alto's revenue channels are more diversified and less cyclical, allowing the firm to service larger clients at greater scale.
Palo Alto, a holding in Jim's Charitable Trust, rose in Thursday morning trading, earlier reaching an all-time high. PANW is the Trust's third-best performing stock in 2023, more than doubling year to date.
Here's a full list of the stocks in Jim's Charitable Trust, the portfolio used by the CNBC Investing Club.
Fire officials from the Santa Clara County Fire Department declared the Los Altos fire under control.
Palo Alto police are investigating a robbery that occurred at a Taco Bell restaurant in the city this week. Â Â
CSW Engineering Group presented the plan that would widen the sidewalks and create parallel parking spaces.
Pro-Palestinian demonstrators target offices of three congressional representatives, calling for conditions attached to military aid in Israel's ongoing war with Hamas.
Palo Alto police are investigating a carjacking after a man in his 60s unsuccessfully tried to fight off the thief early Friday morning, the Palo Alto Police Department said in a press release.
A man suspected of shooting a woman on the Stanford University campus and an attempted robbery of a Trader Joe's has been taken into custody, the Santa Clara County Sheriff's Department said Wednesday.Â
The director of the Federal Bureau of Investigation, Christopher Wray, was in Palo Alto on Tuesday, meeting with heads of intelligence agencies from Britain, Australia, New Zealand and Canada.
Palo Alto police are investigating a sexual battery case where a woman says an unknown suspect groped her as she was walking Wednesday night.Â
Community members and political leaders on Monday remembered what happened on 22 years ago on Sept. 11, 2011, in somber services across the Bay Area.Â
Police in Palo Alto say a multi-million dollar home was burglarized for the third time in three years this week.
Officials for the South Bay and Peninsula took another stride on Tuesday in helping educators find affordable housing.
Authorities are investigating the death of a man whose body was found on a downtown Palo Alto street Wednesday morning.
Mike Wallau says he’s been at the location for 29 years and wants to stay, but the owner says the eviction is about more than paying rent late for one month.
A new study suggested that the Bay Area’s housing market was seeing one of the nation’s largest cooldowns, as 13 local cities were among a list of the top 18 U.S. spots, where home prices were falling.
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