One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Palo Alto Networks stock just hit that mark, with a jump from 77 to 82 Monday.
IBD's proprietary rating identifies price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an 80 or better RS Rating in the early stages of their moves.
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Is Palo Alto Networks Stock A Buy?
Palo Alto Networks stock is working on a consolidation with a 380.84 buy point. See if the cybersecurity stock can break out in volume at least 40% above average. It's a later-stage pattern, and investors should be aware that those involve more risk.
The cybersecurity company reported 20% earnings growth last quarter, while sales growth came in at 15%.
Palo Alto Networks stock holds the No. 3 rank among its peers in the Computer Software-Security industry group. CrowdStrike Holdings is the top-ranked stock within the group.
