Shares of Palo Alto Networks (PANW) fell sharply Monday, triggered by the company's decision to narrow its full-year guidance. Deep Instinct CEO and former Palo Alto Networks CEO Lane Bess joins Market Domination Overtime to discuss the company's third-quarter earnings results and its outlook.

Bess believes that Palo Alto "should be feeling pretty good about these numbers overall." He notes that as the company heads into the fourth quarter, it has "historically been a strong finish to their year," suggesting that Palo Alto's performance in its fiscal final quarter could offset any concerns raised by the narrowed guidance. Regarding the guidance itself, Bess notes that the company adopted a conservative approach, stating "you don't wanna promise and not meet."

Shifting the discussion to artificial intelligence (AI), Bess emphasizes that customers are currently seeking "best of breed" solutions, prioritizing quality. While acknowledging that Palo Alto "doesn't use the most sophisticated AI," Bess highlights the company's ability to create effective defenses against cyberattacks.

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This post was written by Angel Smith