In less than 12 months PANW increased their market cap with $ 53 Bln , which is more than 130% growth! This is a fantastic profit and those of you, who invested early in 2023, are obviosly enjoying your winnings now . Buyers are clearly in control and it seems like nothing could stop the bullish momentum!
Shares are now trading for $296, which is a massive $58 jump since early November. There was a double top formation around the $260 mark, investors recognized this as a resistance zone and the prices pulled back from that area with a good $20 in late October. Since then however huge buying volumes pushed the market higher, crushing the resitance at $260 and reaching almost $300 per share!
There is a reason why the stock is so much loved. Look at their P/E, its now 205! Its much higher than most of thir direct industry competitors, but the market never lies. High P/E means investors expect a lot from PANW in the future. A reason for that is the habbit of the firm to almost always increase their revenues. For the past 10 years, each year they had much higher revenue than the year before. Current operating margin sits at 4.55% and if this figgure gets even slightly higher, it will not be impossible for the stock price to jump even higher.
This is the reason our team of analysts have an idea about PANW’s next price move. Please join our Premium service to see our preferred direction.
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