The cybersecurity company also saw a growth slowdown in remaining performance obligations, a metric that measures future revenue expected from current contracts.

Key Takeaways Palo Alto Networks shares tumbled on Wednesday as the cybersecurity giant’s mostly in-line guidance overshadowed quarterly results that surpassed Wall Street expectations. The stock had trended modestly higher after breaking out above the upper trendline of a descending broadening formation in late April.

Palo Alto Networks Inc (NASDAQ:PANW) shares are moving lower Wednesday on the heels of the company's fiscal third-quarter financial results. Multiple analysts also weighed in on the stock following the print.