Why Palo Alto Networks Stock Sank Today
Despite bullish momentum for the broader market, Palo Alto Networks (NASDAQ: PANW) stock got hit with a substantial pullback in Wednesday's trading. The cybersecurity company's share price closed out the day down 6.8% and had been off as much as 10%. The S 500 rose 0.5%, and the Nasdaq Composite jumped 0.7%.
Palo Alto Networks published its fourth-quarter results after the market closed yesterday and actually delivered sales and earnings that came in above Wall Street's targets. Unfortunately, investors weren't satisfied with management's forward guidance.
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Source Fool.com
