Mike Khouw looks at how to play Palo Alto Networks ahead of earnings.
Cybersecurity stock Palo Alto Networks will be reporting Monday after the close. Here are some things to think about ahead of that announcement, and a potential way to play it using options. The following table includes ten stocks reporting earnings this week where the options market is implying moves of 7% or greater. Highlighted in green are stocks I like, in yellow are those I am more cautious about. Palo Alto Networks was hard hit after they reported earnings on February 20th.
mountain Palo Alto Networks, YTD Palo Alto Networks is a global network security solutions provider. The good news is that the company reported nearly 20% sales growth and greater than 80% gross margins for their most recently reported quarter. Secular tailwinds for cybersecurity remain as the number and sophistication of cyber-attacks continue to grow.
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