Goldman Sachs Starts Palo Alto Networks (PANW) at Buy, Sees 24% Upside
Tweet Send to a Friend
Get Alerts PANW Hot Sheet
Price: $51.91 -0.57%
Rating Summary:
14 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 16 | New: 29
Rating Summary:
14 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 16 | New: 29
Trade PANW Now!
Goldman Sachs initiates coverage on recent IPO Palo Alto Networks (NYSE: PANW) with a Buy rating and $18 price target, suggesting 24% upside.
"We expect investors to gain more confidence not only in growth sustainability but also in Palo Alto Networks’ ability to disrupt the $10 bn plus network security market replacing Firewall solutions, Intrusion Prevention Systems (IPS), Web Proxy solutions and more with a single Next Generation Firewall (NGFW) appliance," the analyst said.
Goldman said investors are underestimating the company's single pass architecture and general product differentiation, and they see sustained growth and margin expansion driving the stock higher.
In addition to Goldman, a number of firms launched coverage on Palo Alto Networks today. 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 $62.72 yesterday, with a 52 week range of $51.10-$63.97.
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
"We expect investors to gain more confidence not only in growth sustainability but also in Palo Alto Networks’ ability to disrupt the $10 bn plus network security market replacing Firewall solutions, Intrusion Prevention Systems (IPS), Web Proxy solutions and more with a single Next Generation Firewall (NGFW) appliance," the analyst said.
Goldman said investors are underestimating the company's single pass architecture and general product differentiation, and they see sustained growth and margin expansion driving the stock higher.
In addition to Goldman, a number of firms launched coverage on Palo Alto Networks today. 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 $62.72 yesterday, with a 52 week range of $51.10-$63.97.
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
- Maxim Group Starts Canadian Solar (CSIQ) at Buy
- Topeka Capital Starts InvenSense (INVN) at Buy
- Staples (SPLS) Q1 Viewed as 'Good Enough'
Create E-mail Alert Related Categories
Hot New Coverage, New CoverageRelated 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!
