Palo Alto Tumbles to Lowest in a Year Following Earnings Report

Palo Alto Networks Inc. briefly tumbled to its lowest in more than a year on Wednesday, a day after the cybersecurity company gave an outlook that failed to fully ease growth concerns.

The Santa Clara, California-based company forecast $5.52 billion to $5.57 billion in next-generation security annual recurring revenue for the current quarter, compared to the Wall Street consensus of $5.57 billion. The company’s sales forecast for the fiscal fourth quarter was $2.49 billion to $2.51 billion. Analysts expect $2.5 billion on average, according to data compiled by Bloomberg.