Palo Alto Networks: A Cybersecurity Stock Worth Watching

Data breaches are a huge and growing problem worldwide. As some big organizations are also falling prey to the cyber-attacks, the demand for this industry’s solutions has gone up markedly. As many companies are expected to continue remote working practices even after COVID-19 is vanquished, this industry, we believe, should gain in the near term as companies will seek to protect their databases and systems.

Overall POWR Rating: A (Strong Buy)

PANW is rated “Strong Buy” due to its short- and long-term bullishness, solid growth prospects, and underlying industry strength, as determined by the four components of our overall POWR Rating.

Bottom Line

With growing demand for advanced security features to prevent cyber-attacks, PANW has the potential to soar in the coming months despite gaining 57.8% so far this year, based on its continued business growth, favorable earnings and revenue outlook, and strong financials.

The consensus revenue estimate of $4.12 billion for 2021 indicates a 20.8% increase year-over-year. Moreover, PANW has an impressive earnings surprise history, with the company beating consensus EPS estimates in each of the trailing four quarters. Its EPS is expected to grow by 18.4% in 2021.

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