Palo Alto Stock's Bullish Trend Ahead Of Q2 Earnings, Despite 113% Run And Selling Pressure
Portfolio Pulse from Surbhi Jain
Palo Alto Networks Inc (NASDAQ:PANW) is set to report its Q2 earnings on Feb. 20, with Wall Street expecting $1.30 EPS and $1.97 billion in revenues. The stock has seen a 113% increase over the past year. Technical analysis shows a moderately bullish trend despite slight selling pressure, with various indicators mostly suggesting a Buy signal. Analyst consensus rates PANW as a Buy with a price target of $292.69, while Wedbush's Dan Ives projects a 16% upside, setting a target at $425.
February 19, 2024 | 2:14 pm
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Palo Alto Networks Inc is expected to report strong Q2 earnings, with a bullish trend indicated by technical analysis and analyst ratings. The stock has significantly outperformed with a 113% increase over the past year.
The anticipation of strong Q2 earnings, combined with a bullish technical setup and positive analyst ratings, suggests a potential short-term upside for PANW. The stock's significant past performance and the consensus Buy rating further support this outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100