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Fly News Breaks for November 26, 2019
PANW
Nov 26, 2019 | 09:26 EDT
DA Davidson analyst Andrew Nowinski lowered his price target on Palo Alto Networks to $245 and kept his Neutral rating after its mixed Q1 results, saying the company's strong next-gen billings growth of 217% was overshadowed by the decline in product revenue. The analyst adds that while the management has slightly raised its billings guidance by $10M at the midpoint, the quarter support his thesis that the next-gen product component of overall sales is still too small while the core firewall solutions are decelerating.
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