Why Palo Alto Networks Shares Fell 21% Last Month
Shares of Palo Alto Networks (NYSE: PANW) fell 21.4% in February 2020, according to data from S&P Global Market Intelligence. The network security specialist's stock was tracking right alongside the broader market all month long until a mixed second-quarter earnings report spoiled the party.
Palo Alto's second-quarter earnings fell 21% year over year to land at $1.19 per share. Revenue rose by 15% to $817 million. Your average analyst had been looking for earnings of roughly $1.12 per share on sales in the neighborhood of $843 million. Looking ahead, management set up third-quarter guidance targets well below the Street view and reduced its full-year projections. The stock crashed 16% lower that day and continued to slide amid the marketwide coronavirus scare to close out February's market action.
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Source Fool.com
