Cybersecurity
Palo Alto Networks Tumbles After Disappointing Sales Forecast
- Downbeat report also hurts shares of CrowdStrike, Zscaler
- Shorter contracts, strategy shifts have weighed on growth
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Palo Alto Networks Inc. fell in Tuesday trading after giving a downbeat forecast for the current period, renewing concerns about a slowdown in cybersecurity services.
Revenue in the fiscal fourth quarter will be $2.15 billion to $2.17 billion, the company said in a statement Monday. Analysts had anticipated a number at the high end of that range, according to data compiled by Bloomberg.