Palo Alto (PANW) Share Gains 'Understated' - Analyst
Tweet Send to a FriendGet Alerts PANW Hot Sheet
Price: $52.38 +0.52%
Rating Summary:
14 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
14 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PANW Now!
Palo Alto Networks Inc. (NYSE: PANW) Q2 results illustrate share gains in network securities that are larger than many grasp, in the view of analysts at Goldman Sachs.
"In the calendar 4Q, Palo Alto Networks added $40m in revenues from a year ago," noted analyst Greg Dunham. "This is roughly equivalent to the aggregate growth of $43mn from all public network security vendors (i.e., Cisco (NYSE: PAWN), Check Point (Nasdaq: CHKP), Juniper (NYSE: JNPR), Fortinet (Nasdaq: FTNT), and Sourcefire (Nasdaq: FIR)) over the same period."
"While the momentum benefited from new product launches we think the level of share gain is likely understated as current deferred revenue is also up $54m from last year," added the analyst.
Goldman Sachs has a Conviction Buy rating on Palo Alto Networks with a price target of $80.00.
For an analyst ratings summary and ratings history on Palo Alto Networks (NYSE: PANW) click here. For more ratings news on Palo Alto Networks click here.
Shares of Palo Alto Networks closed at $61.13 yesterday, with a 52 week range of $47.00-$72.61.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
"In the calendar 4Q, Palo Alto Networks added $40m in revenues from a year ago," noted analyst Greg Dunham. "This is roughly equivalent to the aggregate growth of $43mn from all public network security vendors (i.e., Cisco (NYSE: PAWN), Check Point (Nasdaq: CHKP), Juniper (NYSE: JNPR), Fortinet (Nasdaq: FTNT), and Sourcefire (Nasdaq: FIR)) over the same period."
"While the momentum benefited from new product launches we think the level of share gain is likely understated as current deferred revenue is also up $54m from last year," added the analyst.
Goldman Sachs has a Conviction Buy rating on Palo Alto Networks with a price target of $80.00.
For an analyst ratings summary and ratings history on Palo Alto Networks (NYSE: PANW) click here. For more ratings news on Palo Alto Networks click here.
Shares of Palo Alto Networks closed at $61.13 yesterday, with a 52 week range of $47.00-$72.61.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Williams-Sonoma (WSM) Delivers 'Clean' Q1 Beat - Analyst
- Pandora (P) Posts 'Strong Quarter' - Needham & Company
- Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Goldman Sachs
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
