Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Palo Alto Networks Stock Crashed Wednesday Morning

TheMotleyFool

0 0

Why Palo Alto Networks Stock Crashed Wednesday Morning: https://g.foolcdn.com/editorial/images/766218/a-person-sitting-at-a-desk-with-multiple-computer-monitors-writing-code.jpg

Editor's note: A previous version of this article referred to a consensus analyst target of $1.65 billion for revenues. The correct figure is $1.97 billion. The Fool regrets the error.

Shares of Palo Alto Networks (NASDAQ: PANW) turned sharply lower Wednesday morning, falling as much as 27%. As of 10:44 a.m. ET, the stock was still down 25.9%.

The catalyst that sent the cybersecurity specialist plunging was its quarterly financial report. While results were better than expected, the company announced a major change to its strategy that caught investors off guard.

Source Fool.com

Like: 0

PANW

Share