- Palo Alto Networks, Inc. (PANW) loses 6.77% in the day, reaching minimums not seen since April 28 at $ 178.64.
- Panw got income for 2.29 billion dollars, exceeding market projections.
The values of Palo Alto Networks, Inc. (PANW) marked a maximum of the day in $ 185.30, attracting aggressive vendors that dragged the price of the action at a minimum of April 28 at 178.64 $. Currently, Panw operates at $ 181.68, falling 6.77% on Wednesday.
Investors punish Palo Alto Network in a lower growth projection than expected
The cybersecurity company, Palo Alto Networks (PANW) records a 6.58% drop in the price of its shares, reaching minimums of April 28 at $ 178.64, thus ending with a streak of four consecutive days upward.
Panw announced its quarterly report, obtaining income of 2.29 billion dollars compared to the 2.28 billion expected dollars, as well as an action of $ 0.80 $ compared to the $ 0.772 provided by the market consensus.
Investors showed their concern with the company by presenting a lower growth than expected in businesses that Pawn hopes to recognize how income in the future, reporting 13.5 billion dollars, a figure less than 13.54 billion dollars planned.
In this context, the Barclay´s investment bank adjusted to the decline the target price of Pawn to $ 210 from $ 213, in tune with JP Morgan, which cut $ 221 from $ 225.
Technical levels of Palo Alto Network
The PANW values established a short -term resistance given by the maximum of May 13 in 195.40 $. The next key resistance is found at $ 208.35, maximum of February 18. Down, the closest support is at $ 157.58, minimum of April 21.
4 -hour Panw graphics
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
