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
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