Palo Alto Networks Inc. (NASDAQ:PANW) shares, rose in value on Friday, May 26, with the stock price up by 3.69% to the previous day’s close as strong demand from buyers drove the stock to $215.65.
Actively observing the price movement in the recent trading, the stock is buoying the session at $207.98, falling within a range of $202.60 and $208.87. The value of beta (5-year monthly) is 1.17 whereas the PE ratio is 2701.04 over 12-month period. Referring to stock’s 52-week performance, its high was $208.87, and the low was $132.22. On the whole, PANW has fluctuated by 16.49% over the past month.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
Sponsored
With the market capitalization of Palo Alto Networks Inc. currently standing at about $63.29 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 21, 2023 – Aug 25, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.28, which is expected to increase to $1.23 for fiscal year $4.24 and then to about $4.97 by fiscal year 2024. Data indicates that the EPS growth is expected to be 68.30% in 2024, while the next year’s EPS growth is forecast to be 17.20%.
Analysts have estimated the company’s revenue for the quarter at $1.96 billion, with a low estimate of $1.95 billion and a high estimate of $1.97 billion. According to the average forecast, sales growth in current quarter could jump up 26.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $6.9 billion, representing an increase of 25.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 34 upward and no downward review(s) in last seven days. We see that PANW’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
44 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 5 analyst(s), 34 recommend it as a Buy and 5 called the PANW stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.
The stock’s technical analysis shows that the PEG ratio is about 85.29, with the price of PANW currently trading nearly 13.05% and 12.25% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 71.35, while the 7-day volatility ratio is showing 3.38% which for the 30-day chart, stands at 2.63%. Furthermore, Palo Alto Networks Inc. (PANW)’s beta value is 1.16, and its average true range (ATR) is 5.92. The company’s stock has been forecasted to trade at an average price of $236.33 over the course of the next 52 weeks, with a low of $180.00 and a high of $265.00. Based on these price targets, the low is 16.53% off current price, whereas the price has to move -22.88% to reach the yearly target high. Additionally, analysts’ median price of $235.00 is likely to be welcomed by investors because it represents a decrease of -8.97% from the current levels.
A comparison of Palo Alto Networks Inc. (PANW) with its peers suggests the former has fared considerably weaker in the market. PANW showed an intraday change of 3.69% in today’s session so far, and over the past year, it grew by 27.98%%. In comparison, Check Point Software Technologies Ltd. (CHKP) has moved higher at 1.25% today and is up 1.04% over the past 12 months. On the other hand, the price of HP Inc. (HPQ) has risen 1.07% today. The stock, however, is off -12.20% from where it was a year ago. Additionally, there is a gain of 3.14% for Intel Corporation (INTC) in recent trading while the stock has seen an overall depriciation of -33.03%% over the past year. The PE ratio stands at 2701.04 for Palo Alto Networks Inc., compared to 18.67 for Check Point Software Technologies Ltd., and 12.31 for HP Inc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 1.00%. Meanwhile, the Dow Jones Industrial Improved by 0.89%.
Data on historical trading for Palo Alto Networks Inc. (NASDAQ:PANW) indicates that the trading volumes over the past 10 days have averaged 6.61 million and over the past 3 months, they’ve averaged 3.83 million. According to company’s latest data on outstanding shares, there are 302.30 million shares outstanding.
Nearly 1.40% of Palo Alto Networks Inc.’s shares belong to company insiders and institutional investors own 87.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.85 million shares as on Apr 27, 2023, resulting in a short ratio of 7.21. According to the data, the short interest in Palo Alto Networks Inc. (PANW) stood at 6.23% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 19.55 million. The stock has risen by 54.54% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PANW stock heading into the next quarter.
