Palo Alto Networks Inc. PANW is slated to release first-quarter fiscal 2019 results on Nov 29.Notably, the company surpassed the Zacks Consensus Estimate in each of the trailing four reported quarters with average positive surprise of 7.6%.In the last reported quarter, the company’s earnings and revenues surpassed the Zacks Consensus Estimate as well as its guided range. Also, it recorded a year-over-year improvement on both counts.What to Expect in Q1For the fiscal first quarter of 2019, Palo Alto anticipates revenues of $625-$635 million, up 25-27% year over year. The Zacks Consensus Estimate is pegged at $631.7 million.Non-GAAP effective tax rate for the current quarter is projected to be approximately 22%. Non-GAAP earnings per share are expected in the range of $1.04-$1.06. The Zacks Consensus Estimate is pegged at $1.05, indicating a year-over-year increase of 41.9%.Palo Alto Networks, Inc. Price and EPS Surprise Palo Alto Networks, Inc. Price and EPS Surprise | Palo Alto Networks, Inc. QuoteLet’s see how things are shaping up prior to this announcement. Factors to ConsiderPalo Alto is benefiting from the increasing adoption of its next-generation security platforms. The continuous spending on security, backed by a large-scale upgrade in IT infrastructure and transition to cloud, bodes well for the company.The company’s innovative product portfolio and its constant efforts toward its enhancement are not only helping it reach out to new customers but also opening new avenues for the existing clients.Further, the company’s advancement in cloud security is evident from more than 6,000 customers using its VM-Series, Aperture, Evident and GlobalProtect cloud service offerings. With Traps, the company now caters to more than 3,000 customers and protects above 5 million endpoints.Given growth in the company’s cloud offerings, it is gaining much from its subscription services. Strong attached services revenues and non-attached subscriptions are tailwinds for the company.Additionally, successful sales execution is aiding the company to acquire clients. Increase in the existing customers’ expenditures is contributing to overall growth for the company. In the last reported quarter, the company added nearly 3,000 customers, raising the total count to 54,000.Furthermore, acquisitions have been one of Palo Alto’s key strategies to strengthen its product portfolio and widen the company’s global reach. The company expects to extend its endpoint detection and response (EDR) capabilities with the buyout of Secdo.Additionally, the company’s existing cloud partnerships with giants, namely Amazon’s AMZN Amazon Web Services and Alphabet’s GOOGL Google Cloud are its positives.Howewer, competition from several big and small players in the security application market is a concern. Also, there are some established companies like Cisco CSCO and Juniper in the adjacent markets, further intensifying rivalry in the space.Palo Alto carries a Zacks Rank #3 but has an Earnings ESP of 0.00%, which makes surprise prediction difficult. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cisco Systems, Inc. (CSCO): Free Stock Analysis Report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report Palo Alto Networks, Inc. (PANW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research