All of these cloud based software stocks with no earnings are taking a breather.
See OKTA TWLO ZEN NOW COUP .
The big money seems worried about valuation and cash flow and eventually earnings .
SPLK beat and raised last quarter. Sales are growing 33%.
SPLK bounced strongly off support at $108 and will make its way back to the top of the range at $140
ACB is running out of steam and possibly is grossly overvalued.
Still it has not violated support and is slowly declining in a clear trading range.
Consider a long here with an exit envisioned in the $8.5 $9 area.
The entire group is taking a break now SAAS stocks are all down OKTA TWLO ZEN NOW and TTD
But as a group they are meeting and beating their earnings estimates.
TTD beat and guided higher while posting a 41% increase in sales as they usually do.
I think the weakness is a short term move from growth to Value by the big $$ factor players.
Its a little...
It operates in cloud and security two stellar growth areas.
Last Q was a slight miss but PANW still has strong sequential and YoY growth.
Maybe now is a good to to see if PANW can get ahead of itself again?
Over the longer term the Chinese pork herd is decimated by swine flu. It will take years to recover. So it is strongly expected that substitution to chicken will lead to stronger chicken volume and pricing. However over the near term the US corn crop looks very poor right now due to poor planting conditions. The fear is that feed prices will rise.