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Palo Alto Networks (PANW) PT Raised to $165 at Piper Jaffray on 'Impressive' Q2

March 3, 2015 6:57 AM EST
Get Alerts PANW Hot Sheet
Price: $285.24 --0%

Rating Summary:
    46 Buy, 18 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 7 | New: 39
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Piper Jaffray analyst Andrew Nowinski reiterated an Overweight rating and lifted his price target on Palo Alto Networks (NYSE: PANW) to $165.00 (from $150.00) following "impressive" Q2 results.

Nowinski commented, "Palo Alto continues to significantly outperform expectations, this time beating Street estimates by $14M, or ~7%. That was the second largest beat in at least 8 quarters and the company is now entering the seasonally strongest half of the fiscal year. Similar to last quarter, upside was driven by strong new customer growth (+1,500 new customers), ramping adoption of WildFire (+1,000 new customers) and solid billings (+52% y/ y). We believe Palo Alto is the best-positioned vendor in the space and will continue taking market share at the expense of all other vendors. Palo Alto remains our highest conviction idea and therefore we reiterate our Overweight rating and raise our price target to $165 (previously $150)."

The firm raised FY 2015 EOS from $0.75 to $0.79 and FY 2016 EPS from $1.69 to $1.74.

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 $145.98 yesterday.



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