Investors' fears of missing out on a growth stock tend to surge following a stock-price rally. That's especially true if a stock's returns have trounced wider markets, as has been the case with Palo Alto Networks (NASDAQ: PANW) in 2023. Shares have nearly doubled so far this year, compared to a 16% increase in the S 500.

The cybersecurity specialist is enjoying strong growth, even though overall enterprise IT spending is slowing. The news is even better around Palo Alto's brightening financial picture.

Have investors gotten ahead of themselves by sending the stock so much higher this year, or are further market-thumping returns on the way? Let's take a closer look.

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Source Fool.com