Palo Alto Networks Stock

0 views

Skip to first unread message

Shane Rouse

unread,

Aug 3, 2024, 5:02:59 PM8/3/24

to taimeatidis

A software update last week by CrowdStrike (CRWD) sparked a global tech outage that sent shares of CrowdStrike stock plummeting. While CrowdStrike crumbled, cybersecurity giant Palo Alto Networks (PANW) continued to set up a new base, with PANW stock targeting a 345.90 buy point.

While CrowdStrike continues to deal with the aftermath of last week's crash, Palo Alto Networks has joined two fellow cybersecurity firms on the IBD Breakout Stocks Index, which gets updated weekly. CyberArk Software (CYBR) and Gen Digital (GEN) also made this stock screen.

Since bouncing back above its 50-day moving average at the end of April, Palo Alto stock held support at that benchmark line. While still above the 50-day line, the stock lost support at its 21-day exponential moving average on Wednesday.

As artificial intelligence adds new challenges to companies already facing cybersecurity threats to their networks, Palo Alto Networks offers Precision AI. The idea is to fight AI with AI using a rich security data set. The goal of Precision AI is to identify and block AI-generated attacks while also simplifying cybersecurity using AI copilots to assist users.

Palo Alto Networks rebounded from a sharp 28% gap down following its February earnings report. The drop came on fears that Palo Alto Networks would spark a price war. CyberArk and CrowdStrike also got rattled. In its next quarterly report in May, Palo Alto beat views, but acquisition costs lowered its profit outlook.

The IBD Breakout Opportunities (BOUT) exchange traded fund from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this fund allows you to invest in the entire index in addition to, or rather than, buying individual stocks. Learn more here about the ETF and Innovator.

We are committed to providing reasonable accommodations for all qualified individuals with a disability. If you require assistance or accommodation due to a disability or special need, please contact us at accommo...@paloaltonetworks.com

Palo Alto Networks is an equal opportunity employer. We celebrate diversity in our workplace, and all qualified applicants will receive consideration for employment without regard to age, ancestry, color, family or medical care leave, gender identity or expression, genetic information, marital status, medical condition, national origin, physical or mental disability, political affiliation, protected veteran status, race, religion, sex (including pregnancy), sexual orientation, or other legally protected characteristics.

This website uses cookies. It uses cookies to ensure that it gives you the best experience on our website. If you continue without agreeing to the cookie conditions, we'll assume that you are happy to receive all cookies on this website. Read more