JPMorgan Resumes Palo Alto Networks (PANW) at Overweight

JPMorgan analyst Brian Essex resumes coverage on Palo Alto Networks (NASDAQ: PANW) with a Overweight rating and a price target of $235.00.

The analyst comments "PANW has established the most comprehensive end-to-end platform of Security Software within our coverage universe, with a demonstrated ability to consolidate share across its platform, and we think the company is well positioned as a long- term share consolidator. The breadth of PANW’s platform gives it exposure to multiple high-priority enterprise spending categories including SecOps, SASE, and Cloud Security. The company’s pending acquisition of CyberArk will give it exposure to yet another level of high-priority spending with valuable Identity context and telemetry to leverage across its platform. Fundamentally, the company has been able to leverage its scale and breadth to deliver healthy margin expansion, which we expect will support FCF margin expansion to 40% or better levels over the next few years with valuation relatively undemanding at current levels."

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 $187.09 yesterday.

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