Pacific Crest recently put out a bullish report on PANW indicating that the stock was significantly undervalued relative to its peers. The litigation overhand with Juniper appears to have little future impact on the company and recent hearings seem to indicate that things may even favor PANW. Management is meeting today with Pacific Crest in the Midwest and should offer a reiteration of their recent comments giving rise to further gains in PANW stock price toward their $65 target.
Veeva delivered above consensus earnings and above consensus guidance and has a tremendous market opportunity in front of it. Combined with a very seasoned management team with years of experience this company will evolve into a dominant player in it cloud offering within the Life Sciences sector. There are far more richly valued stocks trading at much higher price to sales ratios than this one. For example SPLK, DATA, WDAY, N etc. have truly nosebleed valuations compared to this one. There is a very high likelihood that VEEV gets bought out before long. If your short I think I would cover very soon. This brief move down with a very thin float will be extremely short lived.