NEW YORK ( TheStreet) -- Another quarter is in the books for Palo Alto Networks (PANW - Get Report) and it seems that all of the excitement surrounding the company's IPO has vanished. With the stock making new 52-week lows every other session, I'm beginning to wonder if the company will ever find a bottom.Despite recent declines the stock is still priced at a premium relative to rivals such as Check Point Software (CHKP - Get Report) and Fortinet (FTNT - Get Report). On the other hand, a 30% drop in two months makes the shares very appealing at $49. But did the company do enough in its Q1 earnings report to convince investors that current valuation is anything but a trap?
Why Palo Alto Is Oversold
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.