No. 1 ranked cybersecurity firm Palo Alto Networks (PANW) has some of the best stock ratings not only in its industry but among all stocks. All except for one. That changed Monday.
Its stock Relative Strength (RS) Rating was a so-so 66 at the end of last week. But it jumped to 71 Monday. That means its stock outperformed more than 70% of all stocks for price performance this past year. However, backed up by strong earnings and revenue growth, its other ratings really shine.
Palo Alto carries a 97 Composite Rating, putting its stock in the top 3% overall. And it boasts a near-best 98 EPS Rating out of 99. Additionally, its B Accumulation/Distribution Rating shows that funds are eager to buy its shares.
Palo Alto Networks holds the No. 1 rank among its peers in the Computer Software-Security industry group, according to IBD Stock Checkup. CyberArk Software (CYBR) and Zscaler (ZS) are also among the group’s highest-rated stocks.
Regarding its fundamentals, Palo Alto Networks reported rising earnings growth over the last three quarters, from 11% to 21% to 27% last quarter, or 95 cents per share. Revenue growth has held steady in the mid-teens, accelerating 16% last quarter to $2.54 billion.
The company is expected to release its next quarterly numbers on or around Nov. 13.
When To Sell Stocks To Lock In Profits And Minimize Losses
Palo Alto stock is still within a buy range, which extends to 5% above the buy point, after breaking out past a 209.51 entry in a cup with handle on Oct. 2. It shares traded above 211 Monday afternoon, near an all-time high 217.94 set on Oct. 8.
The exclusive Relative Strength Rating from Investor’s Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price performance over the trailing 52 weeks holds up against all the other stocks in our database.
This article was created automatically with Stats Perform’s Wordsmith software using data and article templates supplied by Investor’s Business Daily. An IBD journalist may have edited the article.
Please follow James DeTar on Twitter @JimDeTar
RELATED:
Profit From Short-Term Trends With SwingTrader
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD’s Relative Strength Rating?
Looking For Market Insights? Check Out Our IBD Live Daily Segment
Source link
