Palo Alto Stock's Bullish Trend Ahead Of Q2 Earnings, Despite 113% Run And Selling Pressure

Palo Alto Networks Inc PANW will be reporting its second-quarter earnings on Feb. 20. Wall Street expects $1.30 in EPS and $1.97 billion in revenues as the company reports after market hours.

The company is known for its expertise in cybersecurity, providing advanced solutions for network security, including firewalls, cloud security and threat prevention technologies.

Palo Alto stock is up 113% over the past year.

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Palo Alto Networks Technical Setup Ahead Of Q2 Earnings 

As Palo Alto prepares to report its second quarter numbers, technical analysis of the stock’s price charts indicates a moderately bullish trend, accompanied by slight selling pressure.

Currently priced at around $366.41, PANW’s eight-day simple moving average (SMA) at $368.79 signals a Sell. However, the 20-day SMA at $353.16 and the 50-day SMA at $324.11 both indicate Buy signals, with the stock’s price exceeding these averages. The 200-day SMA at $258.65 further supports a Buy signal.

Additionally, PANW’s eight-day, 20-day and 50-day exponential moving averages also align with a Buy indication. The 200-day EMA at $264.03 solidifies the Buy signal.

The Moving Average Convergence Divergence (MACD) indicator at 15.12 suggests a Buy, while the Relative Strength Index (RSI) at 66.48 indicates the stock is very close to being overbought.

The Bollinger Bands (25) range of ($334.4 – $363.52) and Bollinger Bands (100) range of ($246.47 – $330.93) both support a Buy recommendation for Palo Alto stock.

Palo Alto Analysts Consensus Ratings

Ratings & Consensus Estimates: Consensus analyst ratings on Palo Alto stock stand at a Buy currently with a price target of $292.69 a share.

PANW Price Action: Palo Alto stock was trading at $366.41 at the close of trading day on Feb. 18.

Read Next: Wedbush’s Dan Ives Projects 16% Upside For Palo Alto Stock, Sets Bullish Target At $425: ‘Golden Age Of Cybersecurity Is On The Doorstep’

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