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Fly News Breaks for May 27, 2016
PANW
May 27, 2016 | 07:27 EDT
After Palo Alto reported roughly in-line Q3 results but the midpoints of its Q4 guidance came in below expectations, JMP Securities notes that the company's Q3 billings came in significantly above the consensus outlook. The firm says that the company's billings growth was strong, and it believes that the company's sales momentum remains strong. The firm thinks that the stock is undervalued, and it keeps an Outperform rating on the shares.
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