Palo Alto Networks ($PANW) faces challenges as it offers free contract periods to customers, expecting 12 to 18 months of top-line growth pressure. Despite increased spending by top customers, there is fatigue in cybersecurity budgets, especially in the U.S. Federal government sector. Short-term views on business/software spending are negative, but long-term prospects in cybersecurity are positive. The stock price dropped significantly, causing concern in the market.
$PANW is diving after its earnings report & $BUG is poised to pullback to its 10 week moving avg for the 3rd time since its breakout last year. The first two pulls to the 10 wk line are spots where one can buy or add to a position, the third time is more prone to failure. โ ๏ธ
$PANW is diving after its earnings report & $BUG is poised to pullback to its 10 week moving avg for the 3rd time since its breakout last year. The first two pulls to the 10 wk line are sports where one can buy or add to a position., the third time is more prone to failure. โ ๏ธ
While $PANW stock price suffered serious PAIN w/a 20% drop, make no mistake PANW goal is to rain pain on startups with platformization Free for 6 mos until existing contracts expire from competitive vendors is going to wreak havoc in cybersecurity market for startups https://t.co/ihR0U2oncd
PANW was a brutal night for the bulls (and us). While we recognize this stock is in the penalty box, PANW is a core name in the cyber security sector to play the cloud/AI trends we see on the horizon. $375 PT, not throwing in the towel. Remain bullish.
Our views short term have been negative on business/software spending $panw, discussed again on our Sunday educational discord call (recorded). Longer term we like cybersecurity... https://t.co/b5RUAxlDXv
$PANW conference call summary: We executed during the quarter. Our 10 highest-spending customers increased their spending by 36%, but we are starting to see spending fatigue for cybersecurity budgets, and we saw softness in the U.S. Federal government spending. This started lateโฆ https://t.co/2tJvPqzkGn
"Our platformization offers to drive consolidation effectively provide customers a period of the contract for free as part of their commitment. We expect we may see a period of 12 to 18 months of pressure on our top-line growth rates, notably billings" $PANW