Is Palo Alto Networks Bouncing Back or Headed for a Downward Spiral?
Palo Alto Networks' (NASDAQ: PANW) stock dipped 4% on May 21 after the cybersecurity company posted its latest earnings report. For the third quarter of fiscal 2024, which ended on April 30, its revenue increased 15% year over year to $1.98 billion and exceeded analysts' estimates by $10 million. Its adjusted earnings per share grew 20% to $1.32 and also cleared the consensus forecast by $0.07.
Those headline numbers looked healthy, but investors weren't impressed by its near-term outlook. Let's see if Palo Alto Networks' stock will bounce back after its latest decline -- or if it will head even lower over the next few quarters.
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Source Fool.com
