Palo Alto's Stock Loses A Third Of Its Value

Palo Alto Networks Inc PANW shares are trading lower by $34.20 (22 percent) at $117.70 in Wednesday's session.

Palo Alto's Q2 EPS adjusted beat of a penny has been overshadowed by a few different factors, one of these being a $6.4 million miss for revenues. The company also forecasts much lower Q3 EPS and sales figures than current estimates.

See Also: Palo Alto's Competitive Pressure From Cisco To Blame For Downgrade

All of the gains from it 2017 rally ($125.82 to $157.65) have been erased and then some. After a much lower open, it had a brief two-minute rally to $120.99 before continuing its move lower.

So far, the ensuing decline has taken the issue to $117.22 and is not far off that level. Now the issue is approaching its July 2016 low of $117.02. Its prior months low comes in at $114.64.