Recently, Zacks.com users have been paying close attention to Palo Alto (PANW). This makes it worthwhile to examine what the stock has in store.
Palo Alto Networks (PANW -1.23%) may be recognized in the marketplace as a leader in cybersecurity solutions, but investors may be more familiar with the company after it completed a stock split in early December.
Palo Alto Networks (PANW -1.23%), one of the world's largest cybersecurity companies, has been a great long-term stock for growth investors. If you had invested $1,000 in its IPO in 2012, your stake would be worth about $26,500 today.
Palo Alto Networks stock price rose by 26% in 2024 as demand for cybersecurity continues rising globally. It also jumped because of the artificial intelligence tailwinds that have pushed other companies in the industry sharply higher.
In the latest trading session, Palo Alto Networks (PANW) closed at $188.50, marking a -0.53% move from the previous day.
Palo Alto Networks' (PANW 0.69%) stock price may look a bit cheaper than it used to. That's because it recently underwent a 2-for-1 stock split that dropped the stock from around $400 per share to $200 per share as of Dec. 16.
High-quality companies tend to create lots of value for their shareholders over the long term. Sometimes, that means their stock price soars into the hundreds or even thousands of dollars, which can make it difficult for retail investors to buy in.
The cybersecurity company has a tailwind from industry growth that could persist for decades.
Recently, Zacks.com users have been paying close attention to Palo Alto (PANW). This makes it worthwhile to examine what the stock has in store.
If you're an investor in Palo Alto Networks who woke up this morning only to have your jaw drop when you saw the stock price (Nasdaq: PANW), don't worry. The stock hasn't actually dropped by nearly 50%.
There's absolutely no question that the bulls are in charge on Wall Street. Recently, the mature stock-driven Dow Jones Industrial Average, benchmark S&P 500, and growth stock-propelled Nasdaq Composite reached the psychologically important plateaus of 45,000, 6,000, and 20,000, respectively.
PANW's 32% YTD surge highlights its cybersecurity dominance, but premium valuation suggests that holding the stock is the best move.