Watch Palo Alto Networks (PANW) today. Last night, the tech firm posted revenue of $2.2 billion, up by 12.8% Y/Y.
PANW stock is attractive, especially after the company forecasts Q1 revenue surpassing consensus estimates. It also expects diluted non-GAAP net income per share of $1.47 to $1.49. Investors should view Palo Alto as the “gold standard” of cybersecurity. Valuations, however, are a risk. The stock trades at a 50 times price-to-earnings ratio.
Weak demand for Covid vaccines will drag Moderna (MRNA) results lower. Fortunately, MRNA stock traded higher after buyers bought the stock at below $80.00. This week, expect the U.S. Food and Drug Administration to decide on the updated Covid shot. The FDA’s decision should lift Pfizer (PFE) and BioNTech (BNTX) slightly. News that mpox is spreading should increase investor interest in the vaccine market.
In the medical devices sector, Dexcom (DXCM) is a potential rebound play. Selling pressure eased after the stock touched a 52-week low on July 26, 2024. Markets should play Dexcom’s sentiment on the rise. Later this month, it will launch Stelo, the first FDA-cleared glucose biosensor.
In the second quarter earnings report, Dexcom lowered its revenue guidance. Investors worried about Dexcom’s rebound may consider Insulet (PODD), Medtronic (MDT), or Tandem Diabetes (TNDM).
