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Palo Alto Networks Stock Dips 3.23% as Guggenheim Downgrade Weighs In

Mover TrackerMonday, Jan 13, 2025 5:36 pm ET

1min read

Recently, Palo Alto Networks (PANW) witnessed a decrease of 3.23% on January 13, reaching its lowest intraday price since February 2023. The decline in stock price was further impacted by Guggenheim's decision on January 6 to downgrade the company from a neutral rating to a sell, setting a new target price at $130.00.

On November 21, Palo Alto Networks released its first-quarter earnings report for fiscal year 2025, covering the period ending October 31, 2024. The company reported a revenue of $2.139 billion, marking a year-over-year increase of 13.88%, alongside a net income of $351 million. This translated to a basic earnings per share of $1.07.

Founded in Delaware in 2005, Palo Alto Networks offers a variety of cybersecurity solutions that provide comprehensive visibility for enterprises, service providers, and government entities. The company's wide array of products enables end users to secure their networks, remote workforce, service access edge, branch locations, as well as public and private cloud environments. These solutions also enhance the operations within security operation centers.

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