AAL

Cybersecurity Stocks in Focus After PANW Earnings

CrowdStrike has its own quarterly report coming up

Digital Content Manager
Nov 21, 2024 at 6:08 PM
facebook X logo linkedin


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.
Getting Started With Options:
OPTIONS BASICS

Are you ready to start learning about options, and how to use them for faster profits? Our FREE GUIDE breaks down basic options trading concepts and vocabulary, how options derive their value, advantages and disadvantages, trading mechanics, and more!


 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.