Palo Alto Networks Stock Underperforms Despite Upcoming Strong Earnings
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Palo Alto Networks (PANW) stock dropped 1.41% despite market gains, underperforming the S&P 500, Dow, and Nasdaq.
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PANW stock has fallen 6.09% over the past month, lagging the computer/tech sector and S&P 500.
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PANW is expected to report strong Q4 results, with EPS of $1.26 (up 14.55% YoY) and revenue of $1.97B (up 14.3% YoY).
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Full-year estimates project earnings growth of 23.65% and revenue growth of 16.07% for PANW.
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PANW has a premium forward P/E ratio of 49.76 compared to its industry's 28.95, indicating relatively high valuation.