Why Palo Alto Networks Stock Dropped Today

Palo Alto Networks, Inc. PANW shares are trading lower Wednesday amid competition concerns from Microsoft MSFT.

What To Know: The concerns stem from news of Microsoft Entra Internet Access and Microsoft Entra Private Access, two new products which are part of Microsoft's effort to expand further into protecting identities and access.

Other features of the Microsoft Entra portfolio meant to fortify defenses against attackers include real-time prevention of identity takeover. ID Protection leverages the capabilities of advanced machine learning to detect irregularities in sign-in patterns and user behavior, promptly taking action to restrict, challenge, or reduce access in real-time.

Also on Wednesday, Northland Capital Markets analyst Nehal Chokshi maintained Palo Alto Networks with a Outperform and raised the price target from $246 to $305.

Related Link: What's Going On With SunPower Stock Wednesday?

PANW Price Action: Shares of PANW are down 6.42% at $234.17 at the time of publication, according to Benzinga Pro.

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