Palo Alto Networks Inc PANW is poised to reveal its second-quarter financial results on Feb. 20. Analysts have pegged the EPS at $1.30 and revenues at $1.97 billion, with the report scheduled for after-market hours.
The company is renowned for its prowess in cybersecurity, delivering advanced network security solutions encompassing firewalls, cloud security, and threat prevention technologies.
Palo Alto stock has surged 113% in the past year.
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Palo Alto Network’s Technical Picture Preceding Q2 Earnings
In anticipation of Palo Alto’s second-quarter figures, technical analysis of the stock’s price charts reveals a moderately bullish trend, despite slight selling pressure.
At the current price of approximately $366.41, PANW’s eight-day simple moving average (SMA) at $368.79 indicates a Sell. However, the 20-day SMA at $353.16 and the 50-day SMA at $324.11 both signal Buy, with the stock’s price surpassing these averages. The 200-day SMA at $258.65 further bolsters the Buy signal.
Additionally, PANW’s eight-day, 20-day, and 50-day exponential moving averages also align with a Buy indication. The 200-day EMA at $264.03 corroborates the Buy signal.
The Moving Average Convergence Divergence (MACD) indicator at 15.12 suggests a Buy, while the Relative Strength Index (RSI) at 66.48 indicates that the stock is teetering on the brink of being overbought.
The Bollinger Bands (25) range of ($334.4 – $363.52) and Bollinger Bands (100) range of ($246.47 – $330.93) both lend support to a Buy recommendation for Palo Alto stock.
Palo Alto Analysts’ Consensus Ratings
Ratings & Consensus Estimates: Analysts’ consensus on Palo Alto stock currently stands at a Buy, with a price target of $292.69 per share.
PANW Price Action: Palo Alto stock concluded trading at $366.41 on Feb. 18.
Read Next: Wedbush’s Dan Ives Projects 16% Upside For Palo Alto Stock, Sets Bullish Target At $425: ‘Golden Age Of Cybersecurity Is On The Doorstep’
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