Almost 3 Years Ago
1 Min Read

PANW stumbling -7% today. Here's what's moving the stock:



Palo Alto Networks Inc (PANW) is trading -7% lower at $494.66 today.

  • Fortinet (FTNT) shares -13% in late trading yesterday 
  • Cybersecurity peer reported mixed 2Q results and issued revised estimates for full-year 2022
  • Ajusted EPS of $0.24 topped analyst estimates, but revenue of $1.03B (+28.6% Y/Y) was only in-line with consensus
  • Fortinet revised full-year 2022 diluted non-GAAP EPS estimates $1.01-$1.06 vs. $1.00 consensus and a prior outlook of $5.00-$5.15
  • Fortinet maintains revenue guidance in the range of $4.35B to $4.40B versus the $4.38B analyst consensus

Palo Alto Networks Inc has been trading between a 52-week high of $640.9 and a 52-week low of $358.37. The stock has a market cap of $49.3 Billion.

Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Its mission is to be the cybersecurity partner of choice, protecting the digital way of life. The Company helps address the world's greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration.

Headlines


Palo Alto Networks Stock Surges Amid Cybersecurity Concerns
Investor''s Business Daily 08-03-22

$100 Invested In This Stock 5 Years Ago Would Be Worth $400 Today
Benzinga 08-03-22

Palo Alto Networks Unit 42 Helps Customers Better Address Cybersecurity Threats Through New Managed Detection and Response Service
PR Newswire 08-03-22

Palo Alto Networks to Announce Fiscal Fourth Quarter and Fiscal Year 2022 Financial Results on Monday, August 22, 2022
PR Newswire 08-02-22

July’s Recovery or Bear Market Rally: Analyst Upgrades or Downgrades include AbbVie, Bumble, Palo Alto Networks, Target and More
24/7 Wall street 08-01-22


As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

Own_Tackle4514 - 3 upvotes - source
Fuck happened to PANW at close holding 550c for 8/5

BadVladMY - 1 upvotes - source
FTNT earnings was in-line/disappointing, so PANW dipped.