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Palo Alto Networks Stock Scores Relative Strength Rating Upgrade

By INVESTOR'S BUSINESS DAILY and JULIE MAK

On Wednesday, Palo Alto Networks stock reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 92, up from 89 the day before.

When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's unique rating identifies price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.

Over 100 years of market history shows that the best-performing stocks typically have an RS Rating of above 80 at the beginning of a new climb.

See How IBD Helps You Make More Money In Stocks

Is Palo Alto Networks Stock A Buy?

Palo Alto Networks stock is currently trading below its 200-day moving average, amid a bear market. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to establish and enter a buy zone in heavy trade.

While revenue growth fell last quarter from 32% to 30%, the bottom line grew 12%, up from 1% in the prior report. The next quarterly numbers are expected on or around May 20.

Palo Alto Networks stock earns the No. 5 rank among its peers in the Computer Software-Security industry group. Mimecast and Hireright Holdings Corp are among the top 5 highly rated stocks within the group.

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