The company reported a net loss of $60.6 million in its Q2 results, which translates to 67 cents a share on $422.6 million revenue.
The news comes just hours after Palo Alto's shares dropped dramatically following a weaker-than-expected second quarter performance. The consensus estimate is for EPS of $0.70. The action so far has landed shares on the top loser list for the morning session.Palo Alto Networks, Inc.
Over the last twelve months Palo Alto Networks's stock price has increased by 2.19% from 148.64 to 151.9. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of U.S. & worldwide copyright and trademark laws. But should you snap up this tech stock on Day 1? The Market Cap of the company stands at 14.09 Billion.
According to Zacks, "Palo Alto Networks offers network security solutions to enterprises, service providers and government entities worldwide". Following the completion of the sale, the chief executive officer now owns 568,760 shares of the company's stock, valued at $72,414,523.20. While George Soros sold out his Palo shares, other fund managers like Michael L Gordon and Scott Kapnick initiated new $2.13 billion and $17.6 million positions in the stock respectively. Company insiders own 4.80% of the company's stock.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Tuesday, February 28th.
Your Cat's Parasite Won't Make You Psychotic, Study Says
As such, we recommend that pregnant women should continue to follow advice not to handle soiled cat litter in case it contains. That said, separate evidence that suggests parasite exposure can lead to general health problems in children hold up.
Palo Alto Networks chairman and CEO Mark McLaughlin said, "The LightCyber team's vision to bring automation and machine learning to bear in addressing the very hard task of identifying otherwise undetected and often very sophisticated attacks inside the network is well-aligned with our platform approach". Recognized by Gartner in two recent market guides, LightCyber has been leading the industry in the development of automated behavioral analytics capabilities, using sophisticated machine learning to quickly, efficiently and accurately identify attacks based on identifying behavioral anomalies inside the network.
Palo Alto Networks exited the second quarter with cash, cash equivalents and short-term investments of approximately $1.354 billion compared with $1.390 billion in the previous quarter. Also weighing on the stock - which is down 7% in electronic trading - is the firm's 2017 forecast for Exondys 51, its only drug. The retailer isn't looking for much, if any, revenue growth this year either. Finally, Summit Redstone started coverage on shares of Palo Alto Networks in a research note on Friday, December 2nd.
"Sales execution issues, three words software investors hate to hear, but this is something that so many companies go through at some stage of their evolution.The changes needed to get things back on track in these situations typically take 3-4 quarters to run their course". Wunderlich Capital Managemnt increased its stake in shares of Palo Alto Networks by 83.7% in the second quarter. Their platform combines network, cloud and endpoint security with advanced threat intelligence which allows for preventive protection against cyber threats.
Here we discussed Analysts views what they told about Palo Alto Networks, Inc. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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