What Happened With Palo Alto Networks Stock On Thursday?
Portfolio Pulse from Ryan Gustafson
Palo Alto Networks, Inc. (NASDAQ:PANW) shares traded lower on Thursday after Wedbush analyst Daniel Ives reiterated the company's rating and maintained its $290 price target. Ives highlighted the company's decision to hold an earnings conference call on a Friday, which has caused uneasiness among investors. He also expressed concern about the company's Q4 revenues and billings potentially missing Street expectations, which could impact full-year 2024 Billings and FCF guide.
August 18, 2023 | 4:41 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Palo Alto Networks' shares traded lower due to concerns over Q4 revenues and billings potentially missing expectations. The company's decision to hold an earnings call on a Friday also caused uneasiness among investors.
The stock price of Palo Alto Networks dropped due to concerns raised by Wedbush analyst Daniel Ives. He reiterated the company's rating and maintained its price target, but expressed concern about the company's Q4 revenues and billings potentially missing Street expectations. This could impact the company's full-year 2024 Billings and FCF guide. Additionally, the company's decision to hold an earnings call on a Friday has caused uneasiness among investors, which could have contributed to the drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100