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Why the Market Dipped But Palo Alto Networks (PANW) Gained Today
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Palo Alto Networks (PANW - Free Report) ended the recent trading session at $345.89, demonstrating a +0.19% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq lost 0.76%.
The the stock of security software maker has risen by 17.08% in the past month, leading the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 3.36%.
The investment community will be closely monitoring the performance of Palo Alto Networks in its forthcoming earnings report. The company is forecasted to report an EPS of $1.30, showcasing a 23.81% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.97 billion, indicating a 19.08% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.49 per share and a revenue of $8.17 billion, demonstrating changes of +23.65% and +18.58%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Palo Alto Networks. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Palo Alto Networks possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Palo Alto Networks is presently trading at a Forward P/E ratio of 62.91. Its industry sports an average Forward P/E of 34.36, so one might conclude that Palo Alto Networks is trading at a premium comparatively.
We can also see that PANW currently has a PEG ratio of 2.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Software stocks are, on average, holding a PEG ratio of 1.73 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why the Market Dipped But Palo Alto Networks (PANW) Gained Today
Palo Alto Networks (PANW - Free Report) ended the recent trading session at $345.89, demonstrating a +0.19% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq lost 0.76%.
The the stock of security software maker has risen by 17.08% in the past month, leading the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 3.36%.
The investment community will be closely monitoring the performance of Palo Alto Networks in its forthcoming earnings report. The company is forecasted to report an EPS of $1.30, showcasing a 23.81% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.97 billion, indicating a 19.08% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.49 per share and a revenue of $8.17 billion, demonstrating changes of +23.65% and +18.58%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Palo Alto Networks. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Palo Alto Networks possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Palo Alto Networks is presently trading at a Forward P/E ratio of 62.91. Its industry sports an average Forward P/E of 34.36, so one might conclude that Palo Alto Networks is trading at a premium comparatively.
We can also see that PANW currently has a PEG ratio of 2.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Software stocks are, on average, holding a PEG ratio of 1.73 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.