🖥️Akcie of Palo Alto Networks dropped by more than 6%!🌐
Palo Alto Networks $PANW is an American company specializing in cybersecurity. Their products and services help organizations protect their networks and data from threats such as malware, ransomware and attacks from the Internet.
Yesterday after the markets closed, the company reported results, and investors were not too happy. In fact, the company announced a worse outlook for the current and future periods, renewing concerns about a slowdown in demand for cyber services.
The lukewarm outlook follows another disappointing quarterly report in February, when Palo Alto Networksstock posted its worst one-day decline in history. CEO Nikesh Arora said at the time that customers faced "spending fatigue." in cybersecurity. That has sparked fears that clients are slashing their budgets despite the rise in attacks. The slowdown is also being seen in firewall sales, and the problem with other products may be the large and growing competition.
For the third fiscal quarter, total sales were $2 billion, an increase of 15 % from $1.7 billion in the same period the previous year, but this is the slowest growth since 2020.GAAP earnings were $278.8 million, up significantly from $107.8 million in the third quarter of2023.
🔐Competitors include Fortinet $FTNT, Check Point $CHKP, Crowd Strike $CRWD!
What do you think of this company? Or do you like any of the competitors better?
Interesting company. The drop was decent, but the price came back quite a bit by the end of the session. It's struggling to hold today, looks like a bit of a drop. If I could choose here, I probably like $CHKP the best. But all the companies are solid. Do you have any of them?