Palo Alto Networks Stock Dropped 25% This Week. Here's Why.

Shares of Palo Alto Networks (PANW 5.33%) dropped over 25% this week, according to data from S&P Global Market Intelligence. The cybersecurity giant dropped its revenue and billings guidance for fiscal year 2024, causing analysts to lower their price targets. Shares of Palo Alto Networks have soared in the past year with more and more cybersecurity threats emerging and government mandates in places like the U.S. Despite this recent drop, Palo Alto Networks stock is up 50% in the last 12 months.Slowing growt ...