https://finance.yahoo.com/news/palo-alto-networks-tumbles-sales-205200174.html
PANW fell yesterday after their Q3 earnings call. Shares slid from $323.77 at close yesterday to $300.69 at open today. Back in February after the Q2 call, the price dropped from $366 to $261. YoY the stock price is up 62%. YTD, price is up 7.75%.
EPS and revenue both beat expectations (EPS 1.25 expected, 1.32 reported. Revenue 1.97B expected, 1.98B reported). However, 4th quarter billings will be between 3.43B-3.48B compared to analysts estimates of 3.47B.
The Company's Q3 revenue rose 15% to 1.98B which is the slowest growth since 2020. Billings increased 3% which is the smallest gain since it's IPO in 2012.
Appears to be a slowdown in firewall sales across the industry but expectations are the industry will continue to grow and the need for cybersecurity will always be there.
I've made a previous post before about PANW and my sentiment continues to stay the same. I will keep adding to my position monthly as I think the executive team is top tier, they have a world class product, are in a growing industry, and will continue to integrate their product across multiple service lines which will get customers into their own ecosystem.
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