PANW - Why Did Palo Alto Networks Stock Rise 15% Last Month?
2024-07-05 18:14:15 ET
Shares of Palo Alto Networks (NASDAQ: PANW) climbed 15% in June, according to data provided by S&P Global Market Intelligence . After a poorly received earnings report in May, investors were excited about bullish demand indicators from other cybersecurity stocks .
Palo Alto reported quarterly results in May. Its 15% revenue growth was in line with analyst forecasts, and it beat expectations with $1.32 earnings per share. However, the stock slid downward after the report. It's dealing with slowing growth in its core firewall products, and bookings have been somewhat weaker than analysts had expected. Palo Alto's revenue guidance was roughly aligned with consensus forecasts, but investors were still worried about the outlook overall.
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Why Did Palo Alto Networks Stock Rise 15% Last Month?