2 Tech Stocks Heading in Opposite Directions So Far in 2024
Arm Holdings (NASDAQ: ARM) and Tenable Holdings (NASDAQ: TENB) are technology companies that are market share leaders, but their stock prices have moved in opposite directions so far this year. Arm is up 140% in 2024, while Tenable is down 6.5%.
Is one a buy and the other worth ignoring? Stock price and recent movement can't tell you that, but looking at a Stock's forward price-to-earnings ratio can help you determine if it is fairly valued. Arm's forward P/E sits at a staggering 119, one of the highest in its sector. Tenable's forward P/E is less than a third of that at 36.
Is Arm Holdings overvalued and Tenable a better technology investment? Let's get an understanding of the operations and financials of both companies to find out.
Source Fool.com
