WCBR - Palo Alto Networks: Fierce Competition Shares Remain Near Fair Value
2024-04-26 15:01:21 ET
Summary
- Cybersecurity stocks surged at the start of 2024 but have since pulled back as we head into the quarterly reporting season for the group.
- Palo Alto Networks had a solid Q2 EPS beat, but cut its full-year billing forecast and issued disappointing revenue guidance.
- PANW remains a high-growth firm with strong earnings and valuation, but its ability to grow margins through price increases is in question.
- I highlight key price levels to monitor ahead of its quarterly report due out in May.
Cybersecurity stocks took off to start 2024. The WisdomTree Cybersecurity Fund ETF ( WCBR ) continued its surge off lows notched in October last year, but the ETF has since pulled back considerably as we head into the quarterly reporting season for cybersecurity companies....
Palo Alto Networks: Fierce Competition, Shares Remain Near Fair Value