Palo Alto Networks beat fiscal first-quarter expectations and announced a stock split
Palo Alto Networks Inc (NASDAQ:PANW) yesterday reported better-than-expected fiscal first-quarter earnings and revenue, as demand for its cybersecurity services grows stronger due to rising digital threats. The company also announced a two-for-one stock split. Sector peers Crowdstrike Holdings Inc (NASDAQ:CRWD) and SentinelOne Inc (NYSE:S) are enjoying halo lifts in response, making now a good time to check in on the sector.
PANW is up 1.5% to trade at $398.57 at last check, which is within striking distance of its Nov. 14, record closing high of $402.36. The 40-day moving average has acted as support since early October, while today's bounce off the 20-day moving average could help shares secure a third-straight gain. In the last 12 months, PANW is up 51.6%.
CrowdStrike is gearing up for its own quarterly report, which is due out after the close on Tuesday, Nov. 26. The security has a positive history of post-earnings reactions, finishing six of eight next-day sessions higher. CRWD was last seen 2.6% higher at $359.36 -- its highest level since July. Shares sport a 40.4% year-to-date lead, with long-term support from their own 40-day trendline.
S is up 4.1% at $28.18 at last glance, on track for its third gain over the last four sessions and its highest close since February. The security staged a bounce off the $20 region last week, while its 60-day trendline has contained
several pullbacks since July. Plus, shares have amassed an impressive 61.1% year-over-year lead.