NEW YORK (TheStreet) --Shares of Palo Alto Networks (PANW) were sinking by 12.96% during afternoon trading on Tuesday, after the company reported weaker than estimated revenue for the fiscal 2017 first quarter.

After the market close on Monday, the Silicon Valley-based security software company reported earnings of 55 cents per share, while analysts were expecting 52 cents. Revenue rose 34% year-over-year to $398.1 million, however, failed to meet Wall Street projections of $400 million.

"I think the expectations were really high heading into the print. It was up 30% from the summer lows, so they had to beat and raise," TIAA Global Asset Management managing director Stephanie Link said on CNBC's "Halftime Report" today.

Link noted that Palo Alto's reasoning for failing to beat on revenue was because of "deal slippage."

"On the call, they said they closed the ones that had slipped, half of those deals. So, at least already you feel better about the ongoing quarter," Link stated.

Furthermore, she pointed out that the company's margins were "fine" and subscription revenue increased 65%, that represents 30% of Palo Alto's revenue.

"Not a perfect quarter but I can find pockets that are still very good. They're gaining market share; I think the valuation at 11 times free cash flow is pretty attractive," Link said.

Separately, TheStreet Ratings objectively rated Palo Alto Networks stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

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