Palo Alto Networks saw an improvement in its IBD SmartSelect Composite Rating Thursday, from 91 to 96.
The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. 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 entry. Look for the stock to form and break out of a new chart pattern. Also note the next earnings release is next week, which might be reason for caution.
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The stock has a 98 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 98% of all stocks. February 21 is the current date scheduled for the earnings report.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors over the last 13 weeks.
The company reported a 51% rise in earnings for Q1. Revenue growth fell to 25%, down from 27% in the prior quarter. The company's next quarterly report is expected on or around Feb. 21.
Palo Alto Networks holds the No. 2 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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