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....
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Palo Alto Networks: Fierce Competition, Shares Remain Near Fair Value