Palo Alto will report earnings after the close on Tuesday, Feb. 17
Palo Alto Networks Inc (NASDAQ:PANW) stock was last seen down 3.7% at $159.20, amid news that the cybersecurity is planning to dual list on the Tel-Aviv Stock Exchange after finalizing its $25 billion acquisition of peer CyberArk Software. The company is also gearing up for its fourth-quarter earnings report, due out after the close Tuesday, Feb. 17.
Looking back, Palto Alto stock stock finished five of its last eight post-earnings sessions lower. The stock averaged a 7.4% move, regardless of direction, over the last two years, while the options pits are pricing in a 9.2% swing this time around.
On the charts, the stock is still hanging out near its Feb. 6, 10-month low of $151.71. Year to date, shares have shed just 18% and should today's losses hold, PANW will mark its third negative daily session.
Analysts are already chiming in ahead of the earnings event. Most notably, BTIG Research lowered its price target from $248 to $200 today. More bear notes could be on the way, however, considering 38 of the 50 brokerages covering PANW maintain "buy" or better ratings.
Meaning, options traders have been more bullish than usual. Palo Alto stock sports a 50-day call/put volume ratio of 3.37 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 98% of all other annual readings.