Palo Alto Networks Stock Is Sliding Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Palo Alto Networks Inc (NASDAQ:PANW) stock declined despite reporting Q1 revenue and EPS that beat estimates, with revenues up 20% YoY. The company provided Q2 and full-year 2024 guidance that was mostly in line with estimates. Needham and Raymond James analysts maintained positive ratings on PANW, with Raymond James raising its price target.
November 16, 2023 | 1:56 pm
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NEGATIVE IMPACT
Palo Alto Networks reported strong Q1 results with revenue and EPS above estimates, but the stock fell 6.71%. Analysts remain positive, with Needham maintaining a Buy rating and a $305 target, and Raymond James raising its target from $250 to $260.
Despite the positive earnings report, the stock price of Palo Alto Networks decreased, which could be due to investors' reactions to other factors not mentioned in the article, such as market conditions or profit-taking. The positive outlook from analysts suggests a belief in the company's long-term performance, which might not align with the short-term stock price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100