Imperial Capital Remains Bullish Ahead of Palo Alto Networks' (PANW) 4Q Report
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Imperial Capital reiterated an Outperform rating and $190.00 price target on Palo Alto Networks (NYSE: PANW) ahead of the company's 4Q earnings report. Imperial notes that PANW remains below levels prior to the company’s F3Q16 results and believes PANW is continuing to achieve growth at scale and will generate free cash flow margin of about 40% in F4Q16.
Analyst Michael Kim commented, "PANW is scheduled to announce F4Q16 (ended 7/31/16) results on 8/30/16 after the market close. We estimate revenue of $388mn and adjusted EPS of $0.49, compared with consensus revenue estimates of $390mn and adjusted EPS estimates of $0.49. We anticipate PANW will achieve F4Q16 results consistent with expectations, driven by continued strength in security demand, stable competition, and modest headwinds following the Brexit referendum. The dial-in number is (888) 329-8889, conference ID 8969485."
Shares of Palo Alto Networks closed at $142.11 yesterday.
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