PANW - CrowdStrike Stock Is Getting Crushed: What's Going On? | Benzinga
CrowdStrike Holdings Inc (NASDAQ:CRWD) shares are trading lower Wednesday, in sympathy with shares of cybersecurity peer Palo Alto Networks Inc (NASDAQ:PANW), which fell after the company issued weak guidance.
What Happened: Palo Alto beat analyst estimates on both the top and bottom line in its fiscal second quarter, but the company issued soft guidance, which appears to be the main reason shares are down more than 25% on Wednesday.
Palo Alto guided for fiscal third-quarter revenue of $1.95 billion to $1.98 billion versus estimates of $2.04 billion. The cybersecurity company also said it expects third-quarter adjusted earnings to be between $1.24 and $1.26 per share versus estimates of $1.29 per share.
Palo Alto guided for full-year 2024 revenue between $7.95 ...