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.

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Source Fool.com