UPDATE: JMP Securities Assumes Palo Alto Networks (PANW) at Market Outperform
JMP Securities analyst Trevor Walsh assumes coverage on Palo Alto Networks (NASDAQ: PANW) with a Market Outperform rating and a price target of $620.00.
The analyst comments "Palo Alto Networks is a powerhouse of the cybersecurity industry, leveraging its leading position in the network security domain to build a diverse product platform to address key use cases across the network, endpoint, and cloud security fields. We think investors should consider the following key investment positives: 1) strong leadership position in the network security domain, one of the foundational components to an organization’s cybersecurity technology stack; 2) rise of Zero Trust frameworks and Secure Access Service Edge (SASE) models as critical strategies within cybersecurity, for which Palo Alto Networks has actively enhanced its legacy technologies and acquired new intellectual property to address; and 3) a well-seasoned management team that has proven highly capable of executing both organic and inorganic growth plans while precisely running the business around key metrics."
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 $482.17 yesterday.