Palo Alto Networks (PANW) Price Target Raised to $150 at Dougherty
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Rating Summary:
46 Buy, 18 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 11 | New: 43
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Dougherty & Co maintained a Buy rating on Palo Alto Networks (NYSE: PANW) and raised its price target to $150.00 (from $130.00). Analyst Catharine Trebnick pointed to momentum in enterprise.
"Our VAR checks suggest endpoint (Traps) is gaining momentum within the enterprise," said Trebnick."We were surprised by the activity level Traps (released Sep 2014) is generating. Our field work indicated Traps endpoint solution is the “new frontier” for VARs and the sales personal which provide upsell opportunities. We uncovered multiple Traps POC opportunities across pharmacy chains with POS requirements to medium sized financial institutions with multiple ATM locations within PANW’s existing customer base. Plus, Traps is driving new customer engagements."
"We expect the company will continue to drive share gains as it out-distances the competitive landscape with its market leading technology.We reiterate our Buy rating and lift our PT to $150 (from $130) on revised estimates," she added.
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 $126.30 yesterday.
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