Palo Alto Networks saw an improvement in its IBD SmartSelect Composite Rating Friday, from 91 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 currently forming a cup with handle, with a 195.42 buy point. See if the stock can break out in heavy trade at least 40% higher than normal.
The stock has a 96 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 96% of all stocks.
Its Accumulation/Distribution Rating of C- shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q3, the company reported 21% earnings growth. Top line growth increased 15%, up from 14% in the prior quarter. That marks one quarter of accelerating revenue increases.
Palo Alto Networks earns the No. 6 rank among its peers in the Computer Software-Security industry group. CrowdStrike Holdings, Fortinet and Zscaler are among the top 5 highly-rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
