Palo Alto Networks drops on lowered annual profit forecast
Shares of cybersecurity firm Palo Alto Networks PANW.O slump 7.34% to $151.50 in premarket trading
Co trimmed its annual profit forecast on Tuesday, citing rising costs from recent acquisitions aimed at strengthening its AI capabilities
Co expects $2.3 bln cash expenditure in Q3 for the CyberArk acquisition, after spending $2.6 bln on Chronosphere in the prior quarter
"We still see PANW as a clear winner long-term in securing AI end-to-end, now integrating capabilities for identity security and observability via recent acquisitions as the agentic race in cybersecurity heats up," says brokerage Piper Sandler
Expects adjusted profit per share of $3.65 to $3.70 per share for fiscal 2026, down from its earlier forecast of $3.80 to $3.90
Average rating of 55 analysts on the stock is "buy"; their median PT is $220 - data compiled by LSEG
As of last close, stock down 11.23% YTD
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