Palo Alto Networks Stock Is Tumbling Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Palo Alto Networks Inc (NASDAQ:PANW) shares dropped after issuing weak guidance post-quarterly results, despite beating Q2 revenue and EPS estimates. Analysts downgraded the stock or cut price targets. The company forecasts lower-than-expected revenue and earnings for the fiscal third quarter and full year 2024.
February 21, 2024 | 1:42 pm
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Palo Alto Networks shares fell due to weak future guidance and analyst downgrades, despite outperforming Q2 revenue and EPS expectations.
The negative impact on PANW's stock price is primarily due to the company's weak guidance for future earnings and revenue, which has led to a negative reaction from the market. Analyst downgrades and reduced price targets further contribute to the bearish outlook, despite the company's strong performance in Q2.
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RELEVANCE 100