Palo Alto Networks extends recent stock rally on solid earnings. It may be too much, too fast

Wall Street's enthusiastic reaction Tuesday to solid earnings from Palo Alto Networks reinforced our belief that the cybersecurity stock is getting overextended. Shares advanced more than 8% to roughly $372 each in afternoon trading after Palo Alto late Monday posted better-than-expected fiscal 2024 fourth-quarter earnings and revenue, and delivered an upbeat outlook. The roughly 27% rally since Aug. 5 brings the stock just a few dollars shy of its record-high close of nearly $377 on Feb.

Nikesh Arora of the United States on the first hole during the third round of The Alfred Dunhill Links Championship at The Old Course on October 02, 2021 in St Andrews, Scotland.Wall Street's enthusiastic reaction Tuesday to solid earnings from

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