With earnings on tap for Aug. 22, Palo Alto Networks stock is currently about 19% shy of a 641.00 buy point. The current formation is a first-stage consolidation.
Keep in mind that buying a stock just before it reports is risky, since an EPS or sales miss could send it sharply lower. You can reduce your risk by waiting to see the actual numbers and the market's reaction.
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While sales growth fell last quarter from 30% to 29%, EPS grew 30%, up from 12% in the previous report.
Analysts expect earnings growth of 42% for the quarter, and a 21% gain for the full year.
Palo Alto Networks stock has a 93 Composite Rating and earns the No. 3 rank among its peers in the Computer Software-Security industry group. Hireright Holdings Corp is the top-ranked stock within the group.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
