Traders Eye Possible Competition for Palo Alto Networks (PANW) Following IPO
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Palo Alto Networks (NYSE: PANW) shares are trading stronger following IPO pricing at $42 and opening at $55.10. The stock is currently up to about $56.80, or 3 percent on the session.
Being in enterprise and government network security, arguably a key growth industry, investors might want to keep a few competitors of Palo Alto looking to take some market share in the coming years, including:
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Being in enterprise and government network security, arguably a key growth industry, investors might want to keep a few competitors of Palo Alto looking to take some market share in the coming years, including:
- Big names like Cisco Systems (Nasdaq: CSCO) and Juniper Networks (NYSE: JNPR);
- Others which have made acquisitions in the segment in recent years include: Intel Corp (Nasdaq: INTC), International Business Machines (NYSE: IBM), and Hewlett-Packard Company (NYSE: HPQ); and
- Security vendors like Check Point Software Technologies Ltd. (Nasdaq: CHKP), Fortinet, Inc. (Nasdaq: FTNT), and Sourcefire, Inc (Nasdaq: FIRE), should also be watched.
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