Palo Alto Networks saw an improvement in its IBD SmartSelect Composite Rating Friday, from 93 to 96.
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The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Palo Alto Networks is not currently near a proper buy point. Look for the stock to form and break out of a new base.
The stock sports a 97 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 97% of all stocks.
Its Accumulation/Distribution Rating of D- shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.
In Q2, the company posted 11% earnings-per-share growth. Sales were flat, matching the prior quarter's 14%.
Palo Alto Networks earns the No. 5 rank among its peers in the Computer Software-Security industry group. Fortinet is the No. 1-ranked stock within the group.
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