Strong product portfolio driving growth
Cybersecurity company Palo Alto Networks (PANW) is expanding its product portfolio, adding new and updated products. In the last year, the company has launched updated versions of almost every one of its next-generation firewalls. It has also offered new solutions to clients. Palo Alto’s firewalls, combined with cloud-based subscriptions and technology, provide high-end network security protection, helping clients avoid implementing multiple-point cybersecurity solutions.
As shown in the graph above, Palo Alto’s top line has grown over the last five quarters, at a compound annual rate of 7%. In fiscal Q4 2018, the company’s total revenue increased 29% year-over-year to $658 million.
Focus shifting to the endpoint security business
The endpoint security market, which focuses on connection to enterprises’ networks by employees through external devices, is gradually gaining importance. This growing demand has been boosted by the adoption of the bring-your-own-device concept.
Symantec (SYMC), a major name in the endpoint security market, offers products such as EDR (Endpoint Detection and Response) and Endpoint Protection 14. Meanwhile, intelligence-based cybersecurity operator FireEye (FEYE) is also focusing on the endpoint security business. In September 2017, it launched Endpoint 4.0, which offers threat intelligence capabilities for endpoint resistance.
Likewise, Palo Alto has boosted its investments in endpoint security products. In April, the company bought endpoint security company Secdo. The acquisition may boost the company’s EDR features, giving it traction in the endpoint security market.