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FTNT

Fortinet

$34.09

-0.9 (-2.57%)

, PANW

Palo Alto Networks

$155.48

-4.26 (-2.67%)

06:48
10/12/16
10/12
06:48
10/12/16
06:48

Piper sees Fortinet issues as company specific

Piper Jaffray analyst Andrew Nowinski believes the issues that drove Fortinet's (FTNT) negative Q3 preannouncement are company specific. He lowered his price target for the shares to $30 from $33 and keeps a Neutral rating on the name. Nowinski points out that his firm's channel checks suggest demand has remained strong for both Palo Alto Networks (PANW) and Check Point (CHKP). The analyst recommends adding to positions in both names following any pressure from the Fortinet miss.

FTNT

Fortinet

$34.09

-0.9 (-2.57%)

PANW

Palo Alto Networks

$155.48

-4.26 (-2.67%)

CHKP

Check Point

$76.63

-0.96 (-1.24%)

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    Dec

FTNT Fortinet
$34.09

-0.9 (-2.57%)

09/23/16
OPCO
09/23/16
NO CHANGE
OPCO
Outperform
Speculation suggests Imperva takeover in 'near sight,' says Oppenheimer
Oppenheimer analyst Shaul Eyal is not surprised to see the list of potential Imperva (IMPV) buyer candidates mentioned in an article from Bloomberg, which includes Cisco (CSCO), IBM (IBM), Fortinet (FTNT), Akamai (AKAM), and privately held Forcepoint. The analyst envisions Imperva's product line aligning particularly well with Cisco's and IBM's given the recent drive by both to expand their security offerings. Eyal sees a potential price target ranging between $55-$60 if the speculation has any merit and sufficient interest from multiple bidders. Oppenheimer has an Outperform rating on Imperva's shares.
08/30/16
PACS
08/30/16
UPGRADE
Target $47
PACS
Overweight
Fortinet upgraded to Overweight from Sector Weight at Pacific Crest
Pacific Crest analyst Rob Owens upgraded Fortinet to Overweight saying management's focus on enhanced profitability should drive share outperformance. The analyst believes the company's "breadth of platform continues to resonate well with customers" and he has a $47 price target for the shares.
08/30/16
PACS
08/30/16
DOWNGRADE
PACS
Sector Weight
Imperva downgraded to Sector Weight from Overweight at Pacific Crest
Pacific Crest analyst Rob Owens downgraded Imperva (IMPV) to Sector Weight saying the company's fundamentals continue to be challenged. Iimproved performance will take longer than the Street appreciates, Owens tells investors in a research note. The analyst sees a "limited number" of strategic suitors for Imperva and thinks the current share price could prevent "meaningful upside" should a buyer step in. Owens coupled the downgrade with upgrades this morning of Barracuda (CUDA) and Fortinet (FTNT) to Overweight.
08/30/16
08/30/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Outperform from Neutral at Baird by analyst David Tarantino, who believes the stock's risk/reward has become more favorable following the year-to-date underperformance. The analyst admits that slower U.S. industry demand trends and challenging upcoming comparisons pose a "short-term headwind," but thinks the company's "attractive" dividend yield can help to limit further downside risk in the shares. 2. United Continental (UAL) upgraded to Outperform from Market Perform at Raymond James, with analyst Savanthi Syth applauding the selection of Scott Kirby as President and Andrew Levy as CFO. Syth said both have strong industry experience and has increased conviction United will reduce its margin gap relative to its peers over the next 12-18 months. 3. VMware (VMW) upgraded to Buy from Neutral by SunTrust analyst John Rizzuto, who says that the company has effectively diversified beyond its server virtualization roots. The analyst, who expects the company's revenue to bottom this year and accelerate through the end of the decade, raised his price target on the stock to $92 from $64. 4. Barracuda (CUDA) upgraded to Overweight from Sector Weight at Pacific Crest, as analyst Rob Owens said he's seeing improved trends due to the company's renewed product alignment and cloud-centric channel marketing campaign. 5. Fortinet (FTNT) upgraded to Overweight from Sector Weight at Pacific Crest by Rob Owens, who believes management's focus on enhanced profitability should drive share outperformance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PANW Palo Alto Networks
$155.48

-4.26 (-2.67%)

09/19/16
IMPC
09/19/16
NO CHANGE
Target $190
IMPC
Outperform
Palo Alto win rates strong, can keep gaining share, says Imperial Capital
After meeting with Palo Alto Networks (PANW) management, Imperial Capital analyst Michael Kim noted that they highlighted their strong win rates when customers conduct head-to-head evaluations. Kim, who believes the company is gaining share in the network security market at the cost of Cisco (CSCO) and Check Point (CHKP), keeps an Outperform rating and $190 price target on Palo Alto shares.
09/12/16
RSBL
09/12/16
INITIATION
Target $175
RSBL
Buy
Palo Alto Networks initiated with a Buy at Rosenblatt
Rosenblatt initiated Palo Alto Networks with a Buy and $175 price target. The analyst has confidence in management's ability to execute given the company's end-to-end security platform coupled with the strong adoption of the company's SaaS offerings.
09/15/16
JMPS
09/15/16
NO CHANGE
JMPS
Palo Alto Networks outlook has improved, says JMP Securities
After meeting with Palo Alto's CFO, JMP SDecurities analyst Erik Suppiger says that the company's customers are keeping their hardware products longer but spending more on support and subscription services. The analyst thinks that the latter trend will "help offset" the deceleration in product revenue expected to occur in fiscal 2017. He raised his price target on the stock to $180 from $165 and keeps an Outperform rating on the shares.
09/22/16
FANA
09/22/16
NO CHANGE
Target $175
FANA
Overweight
Palo Alto Networks price target raised to $175 from $160 at First Analysis
First Analysis analyst Howard Smith said that after speaking with Palo Alto Networks CFO and CTO that he is more encouraged about the company's product pipeline strength and focused product approach. Smith, who expects the company's shift toward a greater proportion of subscription business to result in fast growth and improved free cash flow, raised his price target on Palo Alto shares to $175 from $160 and keeps an Overweight rating on the stock.
CHKP Check Point
$76.63

-0.96 (-1.24%)

09/28/16
09/28/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Amazon.com (AMZN) reinitiated with a Buy at Nomura. 2. Cabot Oil & Gas (COG) coverage assumed with a Buy at GMP Securities. 3. Johnson Controls (JCI) initiated with an Outperform at Cowen. 4. Check Point (CHKP) initiated with an Overweight at Piper Jaffray. 5. Duke Realty (DRE) initiated with a Neutral at Mizuho. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/28/16
PIPR
09/28/16
INITIATION
Target $95
PIPR
Overweight
Check Point initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski started Check Point Software with an Overweight rating and $95 price target. The company can meet and potentially exceed consensus estimates in FY17 "simply by maintaining its current market share," Nowinski tells investors in a research note.
09/15/16
GUGG
09/15/16
INITIATION
GUGG
Neutral
Check Point initiated with a Neutral at Guggenheim
Guggenheim analyst Ryan Hutchinson initiated Check Point with a Neutral rating.

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KEY

KeyCorp

$17.90

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MTSI

MACOM

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MTSI

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$47.13

1.08 (2.35%)

AMCC

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$8.40

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NEM

Newmont Mining

$33.58

1.31 (4.06%)

, SDRL

Seadrill

$2.95

-0.13 (-4.22%)

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$33.58

1.31 (4.06%)

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Seadrill

$2.95

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ORCL

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$38.50

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AET

Aetna

$133.49

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FE

FirstEnergy

$30.57

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LBTYA

Liberty Global

$29.67

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TOL

Toll Brothers

$29.32

0.18 (0.62%)

IRDM

Iridium

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ITRI

Itron

$63.10

-0.7 (-1.10%)

07:28
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HDYN

Hyperdynamics

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VNCE

Vince Holding

$3.90

-0.35 (-8.24%)

07:27
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FL

Foot Locker

$74.23

0.55 (0.75%)

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NMBL

Nimble Storage

$7.72

0.28 (3.76%)

07:25
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AMZN

Amazon.com

$740.34

-3.31 (-0.45%)

07:25
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TRIL

Trillium Therapeutics

$6.70

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QTNA

Quantenna Communications

$16.83

-0.18 (-1.06%)

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TRIP

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$46.46

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BA

Boeing

$152.25

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Airbus

$15.64

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HCLP

Hi-Crush Partners

$18.40

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TSN

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Hilton

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TGLS

Tecnoglass

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ALNY

Alnylam

$41.57

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