Today's Research Reports on Stocks to Watch: Shopify and Palo Alto Networks
NEW YORK, NY / ACCESSWIRE / October 11, 2017 / U.S. major indexes continued to hit new record highs Tuesday as consumer staples were lifted by Wal-Mart Stores Inc.'s announcement of a $20 billion share repurchase program. The Dow Jones Industrial Average gained 0.31 percent to close at a record 22,830.68, its 47th record close in 2017, while the S&P 500 Index hit an intra-day record of 2,555.23 before settling to close at 2,550.64, an increase of 0.23 percent. The NASDAQ Composite Index hit an intra-day record of 6,608.30 before settling to close at 6,587.25, an increase of 0.11 percent. Corporate earnings will now be a main focus amongst investors as earnings season is set to kick off this week.
"We think valuations are fair and we're not expecting any big surprises out of earnings season, which should be pretty strong," said Michael Matousek, head trader at U.S. Global Investors Inc. in San Antonio, according to MarketWatch. "I don't think we're going to see major moves to the upside or the downside until earnings, because people are waiting to see where major companies like [Facebook Inc.] come in, but there is optimism."
RDI Initiates Coverage on:
Shopify Inc.
https://rdinvesting.com/news/?ticker=SHOP
Palo Alto Networks, Inc.
https://rdinvesting.com/news/?ticker=PANW
Shares of Shopify decreased 4.94% to close at $92.57 on Tuesday. The stock traded between $89.35 and $99.00 on volume of 11.4 million shares traded, which was above its three months average volume of 3.92 million shares. Over the past year, Shopify has traded in a range of 37.74 to 123.94. The company's 50-day moving average is $111.72, which is higher than its 200-day moving average of $92.89. The stock currently has a consensus analyst rating of 2.20 and a consensus target price of $102.00, up from a consensus analyst rating of 2.09 three months ago. Shares of Shopify have gained approximately 115.93 percent year-to-date.
Access RDI's Shopify Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SHOP
On Tuesday, Palo Alto Networks, Inc. gained 2.80% to close at $150.52. Shares traded in the range of $148.91 and $153.35 on volume of 2.85 million shares traded, above the stock's three months average volume of 1.3 million shares. Over the past year, Palo Alto Networks, Inc. has traded in a range of 107.31 to 165.69. Palo Alto Networks, Inc.'s 50-day moving average of $140.13 is above its 200-day moving average of $128.94. The consensus analyst rating currently on the stock is 1.58 with a consensus target price of $162.76, which is down when compared to a consensus analyst rating of 1.75 three months ago. Shares of Palo Alto Networks have gained approximately 20.37 percent year-to-date.
Access RDI's Palo Alto Networks, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PANW
Our Actionable Research on Shopify Inc. (NYSE: SHOP) and Palo Alto Networks, Inc. (NYSE: PANW) can be downloaded free of charge at Research Driven Investing.
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