Palo Alto Networks shares drop most since 2012 IPO
Publishing timestamp: 2024-02-21 16:02:07
Summary
Analysts downgraded Palo Alto Networks shares due to weakness in U.S. government base, CEO mentioned slower growth, shares dropped 28%, company reduced full-year revenue guidance, analysts maintained buy-equivalent rating but lowered price target, company focusing on platformization to get customers using multiple products, demand picture remains the same but customers are facing spending fatigue in cybersecurity.
Sentiment: NEGATIVE
Keywords: breaking news: technology, palo alto, palo alto networks inc, business news, wells fargo & co, technology, enterprise, business,
Source: https://www.cnbc.com/2024/02/21/palo-alto-networks-stock-on-pace-for-worst-day-since-2012-ipo.html