Palo Alto Networks (PANW) Increases Despite Market Slip: Here's What You Need to Know

In the latest close session, Palo Alto Networks (PANW) was up +1.65% at $291.12. This move outpaced the S&P 500's daily loss of 1.44%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 2.22%. The stock of security software maker has risen by 9.91% in the past month, leading the Computer and Technology sector's gain of 0.98% and the S&P 500's gain of 0.08%.The upcoming earnings release of Palo Alto Networks will be of great interest to investors. The company's upcoming EPS is projected at $0.97, signifying a 2.11% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $3.35 billion, reflecting a 32.1% rise from the equivalent quarter last year. For the full year, the Zacks Consensus Estimates are projecting earnings of $3.77 per share and revenue of $11.41 billion, which would represent changes of +12.87% and +23.71%, respectively, from the prior year. It's also important for investors to be aware of any recent modifications to analyst estimates for Palo Alto Networks. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.05% downward. Palo Alto Networks presently features a Zacks Rank of #3 (Hold). Looking at valuation, Palo Alto Networks is presently trading at a Forward P/E ratio of 75.97. This expresses a premium compared to the average Forward P/E of 41.69 of its industry. We can additionally observe that PANW currently boasts a PEG ratio of 5.72. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Security stocks are, on average, holding a PEG ratio of 2.87 based on yesterday's closing prices. The Security industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 104, putting it in the top 43% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks