Palo Alto Networks (PANW): Aggressive Pricing Limits Upside And Leads To Weaker Than Expected Guidance - Baird
- Banks, telecoms lead Wall Street up; another Dow record
- Western Digital (WDC) Raises Q2 Outlook
- bluebird bio (BLUE) to Offer $200M of Common Stock
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
- After-Hours Stock Movers 12/06: (PLAY) (ANTH) (WDC) Higher; (AVAV) (ESV) (BLUE) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Baird analyst, Jayson Noland, reiterated his Outperform rating of Palo Alto Networks (NYSE: PANW) after the company beat revenue by ~2% and met EPS. The analyst stated "Palo Alto reported a solid FQ4. Management cited an improved macro-economic environment. The FQ1 guide and F17 guidance commentary were mixed relative to expectations. Specifically, F17 product revenue guidance will cause some confusion. We remain buyers of the stock and continue to expect Palo to take share with its platform-based approach and hybrid SaaS model."
Revenue/non-GAAP EPS of $401 million/$0.50 compared to consensus of $390 million/$0.50. Billings of $572 million exceeded consensus of $562 million, up 45% YoY. Management guided revenue/non-GAAP EPS to $396-$402 million/$0.51-$0.53 versus consensus of $402 million/$0.56. For F17, management guided non-GAAP EPS to $2.75-$2.80 versus consensus of $2.65.
The price target of $175 is cut from $180.
Shares of Palo Alto Networks closed at $143.45 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
- Stifel Boosts PT on Francesca's (FRAN) to $21; Notes Solid Start to Q4, Confident CEO Strategy
- Needham & Company Downgrades Sigma Designs (SIGM) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird, Jayson Noland
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!