Palo Alto Networks (PANW) IPO Surges Higher

July 20, 2012 9:49 AM EDT
The IPO for Palo Alto Networks (NYSE: PANW) is open for trading. Shares opened at $55.10 after pricing 6,200,000 shares at $42, above the expected $38-$40 range.

Morgan Stanley & Co. LLC, Goldman, Sachs & Co., and Citigroup Global Markets, Inc. are acting as lead joint book-running managers for the offering, and Credit Suisse, Barclays, UBS Securities LLC, and Raymond James & Associates, Inc. are acting as book-running managers for the offering.

Palo Alto pioneered the next generation of network security with an innovative platform that allows enterprises, service providers, and government entities to secure their networks and safely enable the increasingly complex and rapidly growing number of applications running on their networks.

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