CrowdStrike, Zscaler, SentinelOne Shares Are Sliding Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Shares of CrowdStrike, Zscaler, and SentinelOne fell in after-hours trading due to Palo Alto Networks' weak guidance. Palo Alto's forecast for Q3 revenue and adjusted earnings per share fell below analyst estimates, as did its full-year 2024 revenue and earnings projections. This has caused a ripple effect in the cybersecurity sector, with stocks that have yet to report earnings experiencing the most significant drops. CrowdStrike, Zscaler, and SentinelOne are scheduled to report their earnings soon.
February 20, 2024 | 10:19 pm
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NEGATIVE IMPACT
CrowdStrike's stock fell 7.63% in after-hours trading due to the sector-wide impact from Palo Alto Networks' weak guidance.
CrowdStrike's stock decline is directly related to the negative sentiment in the cybersecurity sector caused by Palo Alto Networks' disappointing guidance. As CrowdStrike is yet to report its earnings, investors may be concerned about potential similar guidance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Palo Alto Networks' stock plummeted nearly 20% after issuing weak guidance for Q3 and full-year 2024, below analyst estimates.
Palo Alto Networks' significant stock drop is a direct result of its own weak guidance announcement. As a leading company in the cybersecurity sector, its outlook has a substantial impact on market sentiment and investor confidence in the sector.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
SentinelOne's stock fell 5.66% in after-hours trading due to negative sentiment from Palo Alto Networks' weak guidance.
SentinelOne's stock is down, likely due to investor concerns over the cybersecurity sector's outlook following Palo Alto Networks' soft guidance. With its earnings report pending, the market is cautious.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Zscaler's stock fell 7.65% in after-hours trading, influenced by Palo Alto Networks' disappointing guidance.
Zscaler's stock drop is a reaction to the broader market sentiment in the cybersecurity sector, triggered by Palo Alto Networks' weaker-than-expected guidance. With Zscaler's earnings report upcoming, investors may be adjusting their expectations.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80