Palo Alto Networks Stock Drops 29% as Company Shifts Strategy to Prioritize Long-Term Growth
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Palo Alto Networks (PANW) stock is down 29% recently due to a shift in business strategy and reduced guidance.
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The company is a leader in AI-based cybersecurity solutions to combat sophisticated threats.
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Palo Alto delivered strong Q2 results but reduced its full-year forecast to shift towards a platformization strategy.
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The new strategy involves short-term revenue hits to lock in long-term recurring growth.
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PANW believes this will help them reach $15B in annual revenue by 2030, presenting a buying opportunity for long-term investors.