Palo Alto Networks (PANW): Channel Checks Indicate Upside Likely - Nomura

August 23, 2016 9:23 AM EDT
Get Alerts PANW Hot Sheet
Price: $142.11 +0.13%

Rating Summary:
    40 Buy, 10 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Nomura Securities analyst, Frederick Grieb, reiterated his Buy rating on shares of Palo Alto Networks (NYSE: PANW) along with the price target of $200 ahead of F4Q’16 earnings on Tuesday, August 30th. The stock is down 7% since F3Q’16 earnings (vs. the S&P 500 up 4%).

The analyst went on to note "Our checks for the quarter were generally positive on Palo Alto and support a quarter that is ahead of expectations. During the quarter, our survey indicated that 79% of resellers were running ahead of plan with Palo Alto sales, and the average reseller we spoke with was about 5.2% ahead of plan at the beginning of July. Based on these checks, we expect Palo Alto to report a quarter slightly better than the Street’s 4Q’16 revenue expectation of $389.9mn".

For an analyst ratings summary and ratings history on Palo Alto Networks click here. For more ratings news on Palo Alto Networks click here.

Shares of Palo Alto Networks closed at $137.54 yesterday.

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