Palo alton networks stock, which is up about 7% on Monday, has fallen in recent weeks and is trading around 30% below its IPO price.
This is because of the strong dollar.
Palo Alton is owned by the same investors who own Blackstone Group, which also owns TheStreet’s tech-focused index.
TheStreet Ratings team rates Palo as a buy with a ratings score of B-.
TheStreet has a Buy rating and a Buy recommendation.
Palo stocks have outperformed their peers in the S&P 500 for the past several months, and investors are taking the stock more seriously as a hedge against potential declines.
Investors have been taking Palo’s stock seriously for years, but this time it’s been anemic.
This time, investors are starting to realize that the company isn’t in a bubble and are starting buy-and-hold strategies to get better returns.
Palos stock is trading at a loss for a few weeks, but investors should see a bounce back in the next few months.
The stock is currently trading at around $26 per share, but its price is trending higher and is expected to bounce back higher in the coming weeks.
Palomar Networks is also trading at loss, and the stock has fallen by about 20% over the past year.
The company is currently up about 15% for the year, and analysts say it’s on track to hit $2.3 billion in revenue for 2019.