Palo Alto Networks Drags Down Cybersecurity Stocks
Tiger Newspress02-21
Shares of Palo Alto Networks plunged 20.7% in late trading Tuesday after the cybersecurity company cut its revenue outlook for the full year.
The company also issued guidance for its current quarter that fell below Wall Street expectations.
The weak outlook came after Palo Alto Networks reported better-than-expected results for its fiscal second-quarter.
Other cybersecurity stocks also dropped in extended trading. Zscaler and CrowdStrike fell 8%; SentinelOne fell 6%; Fortinet and Tenable fell 4%; CyberArk fell 3%.
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