SentinelOne, Palo Alto, Fortinet, Zscaler Shares Are Moving Higher: What's Going On?

Zinger Key Points
  • Several cybersecurity stocks are trading higher in Tuesday's after-hours session in sympathy with CrowdStrike.
  • CowdStrike reported better-than-expected results and issued upbeat guidance after the market close on Tuesday.

Several cybersecurity stocks are trading higher in Tuesday's after-hours session in sympathy with CrowdStrike Holdings Inc CRWD, which surged after the company reported better-than-expected results and issued upbeat guidance.

Some of the biggest movers include SentinelOne Inc SPalo Alto Networks Inc PANWFortinet Inc FTNT and Zscaler Inc ZS.

What Happened With CRWD: CrowdStrike's fourth-quarter revenue increased 33% year-over-year to $845.34 million, which beat the consensus estimate of $839.04 million, according to Benzinga Pro. The cybersecurity company reported quarterly earnings of 95 cents per share, which beat analyst estimates of 82 cents per share.

CrowdStrike has exceeded analyst estimates on both the top and bottom line in every quarter since the company went public in 2019, per Benzinga Pro.

Annual recurring revenue increased 34% year-over-year to $3.44 billion after the company added $281.9 million of net new ARR in the fourth quarter … read the full story here.

Check This Out: Short Seller Spruce Point Takes Aim At Zillow, Sees 40%-60% Downside In Stock

S, PANW, FTNT, ZS Price Action: SentinelOne shares were up 6.86% at $27.75, Palo Alto shares were up 4.57% at $304.44, Fortinet shares were up 3.62% at $71.51, and Zscaler shares were up 3.39% at $213.35, according to Benzinga Pro.

Photo: Kris from Pixabay.

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