BUZZ-Palo Alto slips after Q3 operating expenses rise

Reuters
05-21
BUZZ-Palo Alto slips after Q3 operating expenses rise

** Shares of cybersecurity firm Palo Alto Networks PANW.O slip 6.8% to $181.25 after Q3 operating expenses increase 12%, revenue in line with estimates

** Brokerages Bernstein, JP Morgan, Barclays and Northland Capital cut PTs on stock

** JP Morgan and Barclays say they don't expect current double-digit product revenue growth to continue and co was slightly affected by macro uncertainties in April

** 39 out of 55 analysts rate stock as "buy" or higher, 14 "hold" and two "sell" or lower; median PT is $218 - LSEG

** As of last close, PANW up ~7% YTD compared with Dow Jones US Technology Sector index's .DJUSTC decline of 1.8% YTD

(Reporting by Twesha Dikshit)

((Twesha.Dikshit@thomsonreuters.com))

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