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PANW

Palo Alto Networks

$142.53

-0.19 (-0.13%)

, CHKP

Check Point

$102.98

0.83 (0.81%)

18:15
11/20/17
11/20
18:15
11/20/17
18:15

Palo Alto quarter positive for Check Point, Fortinet, says JPMorgan

JPMorgan analyst Sterling Auty says Palo Alto Networks' (PANW) October quarter beat and guidance raise, despite showing market share gains, is good for the overall network security market, specifically Check Point Software (CKHP) and Fortinet (FTNT). The results prove investor concerns over the shift to the cloud have been overdone, Auty tells investors in a research note. In after-hours trading, Palo Alto is trading up 7% to $152.20 while Fortinet is up 23c to $41.00.

PANW

Palo Alto Networks

$142.53

-0.19 (-0.13%)

CHKP

Check Point

$102.98

0.83 (0.81%)

FTNT

Fortinet

$40.77

0.46 (1.14%)

  • 20

    Nov

  • 07

    Dec

  • 11

    Dec

  • 11

    Dec

  • 17

    Jan

PANW Palo Alto Networks
$142.53

-0.19 (-0.13%)

11/16/17
JMPS
11/16/17
NO CHANGE
JMPS
Outperform
Cisco results bode well for Palo Alto, Arista Networks, says JMP Securities
JMP Securities analyst Erik Suppiger noted that in contrast to investor worries about a market slowdown, Cisco's (CSCO) security business re-accelerated to 8% yearly growth from last quarter's disappointing 3% growth rate. Cisco's results bode well for Palo Alto Networks (PANW) and Arista Networks (ANET), said Suppiger, who has Outperform ratings on both of the latter stocks and maintains a Market Perform rating on Cisco.
11/14/17
STFL
11/14/17
NO CHANGE
Target $180
STFL
Buy
Stifel encouraged by Palo Alto Networks checks ahead of earnings
Stifel analyst Gur Talpaz said sentiment on Palo Alto Networks is mixed heading into earnings, but his checks point to ongoing improvements in the company's business. Particularly, a large distributor noted that October was its best month on record in terms of Palo Alto, Talpaz tells investors. The analyst, who thinks the bar for Q1 is set at an "achievable" level, said he was encouraged by his checks and he keeps a Buy rating and $180 target price on Palo Alto shares ahead of the company's report on November 20.
11/14/17
DBAB
11/14/17
NO CHANGE
DBAB
Deutsche cautious on firewall demand after field work
Deutsche Bank analysts Karl Keirstead and Gray Powell are "incrementally more cautious" on Check Point (CHKP), Fortinet (FTNT) and Palo Alto Networks (PANW) after doing some field work in the network security space. The consensus view of resellers was that traditional firewall demand is "stable at best, and more likely weakening," the analysts tell investors in a research note. The channel work suggests the disappointing Q4 guidance from Check Point and Fortinet may not be company-specific, and raise the risk level for Palo Alto's earnings report next week, they contend. Keirstead and Powell do not see any significant signs of recovery in product revenue growth at the main network security vendors in the first half of 2018. They add that their channel work is positive for email security and Proofpoint (PFPT).
11/10/17
PIPR
11/10/17
NO CHANGE
Target $155
PIPR
Overweight
Palo Alto checks suggest 'depressed' market demand, says Piper Jaffray
Piper Jaffray analyst Andrew Nowinski says another round of channel checks with Palo Alto Networks resellers suggest market demand is "depressed," particularly from the large enterprise customers. The analyst, however, does not believe this represents much of a change from Q3 to Q4, and as such, is already factored into management's guidance. He also notes Palo Alto faces easy comparisons for both product revenue and billings in Q2 and Q3, suggesting guidance should be in line with Street expectations. Nowinski reiterates an Overweight rating on the shares with a $155 price target.
CHKP Check Point
$102.98

0.83 (0.81%)

11/01/17
FBCO
11/01/17
NO CHANGE
Target $105
FBCO
Neutral
Check Point price target lowered to $105 from $110 at Credit Suisse
Credit Suisse analyst Brad Zelnick lowered his price target for Check Point to $105 from $110 following quarterly results as he interprets its Q3 results as supportive of his broader negative call on the firewall category. The analyst reiterates a Neutral rating on the shares.
11/01/17
COWN
11/01/17
DOWNGRADE
Target $112
COWN
Market Perform
Check Point downgraded to Market Perform at Cowen
As reported previously, Cowen analyst Gregg Moskowitz downgraded Check Point to Market Perform from Outperform following its Q3 results. The analyst cited disappointing billings as the U.S. experienced weakness due to issues arising from GTM changes. The guidance was also disappointing and he believes the headwinds could persist for awhile. Moskowitz lowered his price target to $112 from $120 on Check Point shares.
11/01/17
11/01/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. General Motors (GM) downgraded to Neutral from Buy at Nomura Instinet with analyst Anindya Das citing "limited scope" for raising his estimates much higher given the competitive landscape in the North American market. 2. Under Armour (UAA, UA) was downgraded to Hold from Buy at SunTrust and to Sell from Hold at Canaccord. 3. Alaska Air (ALK) and JetBlue (JBLU) were downgraded to Neutral from Overweight at JPMorgan, while United Continental (UAL) and Spirit Airlines (SAVE) were downgraded to Underweight from Neutral. 4. Check Point (CHKP) was downgraded to Equal Weight from Overweight at Stephens, to Neutral from Buy at BTIG, and to Market Perform from Outperform at Cowen. 5. Goodyear Tire (GT) downgraded to Neutral from Buy at Guggenheim with analyst Emmanuel Rosner saying he sees additional downside at current levels due to concerns "deep share losses and margin erosion" could continue given the increasingly competitive tire market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FTNT Fortinet
$40.77

0.46 (1.14%)

09/18/17
OPCO
09/18/17
NO CHANGE
Target $45
OPCO
Outperform
Equifax breach could become tailwind for Fortinet, says Oppenheimer
Following a meeting with Fortinet's (FTNT) management, Oppenheimer analyst Shaul Eyal believes the Equifax (EFX) breach could yield an effect akin to the late-2013 Target (TGT) breach, whereby heightened security awareness and an increase in involvement across boards and C-level executives which could convert into increased security budgets. Further, the analyst believes Fortinet is focused on better positioning itself for IT trends, and that its "strong growth" in subscription services remains in-tact and higher-end appliance traction remains a strong-point for its product segment. Eyal reiterates an Outperform rating and $45 price target on Fortinet's shares.
10/18/17
DBAB
10/18/17
NO CHANGE
Target $114
DBAB
Buy
Proofpoint price target raised to $114 from $100 at Deutsche Bank
Deutsche Bank analyst Gray Powell raised his price target for Proofpoint (PFPT) shares to $114 after taking over coverage from Karl Keirstead. The analyst this morning also upgraded Fortinet (FTNT) to Buy. He believes Proofpoint is "uniquely positioned" in the cybersecurity space and "highly differentiated" relative to peers. The analyst reiterates a Buy rating on the shares.
10/18/17
DBAB
10/18/17
UPGRADE
Target $48
DBAB
Buy
Fortinet upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Gray Powell upgraded Fortinet to Buy and raised his price target for the shares to $48 from $36 after taking over coverage from Karl Keirstead. The analyst believes Fortinet will continue to gain market share in the network security space and thinks the company exhibits an attractive revenue and free cash flow growth profile relative to its valuation. He sees a favorable risk/reward on the stock.

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FB

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AAPL

Apple

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OAS

Oasis Petroleum

$10.16

0.01 (0.10%)

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  • 08

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ASND

Ascendis Pharma

$63.01

-0.82 (-1.28%)

12:45
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  • 23

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CNSL

Consolidated Communications

$10.94

-0.04 (-0.36%)

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INCY

Incyte

$68.72

0.31 (0.45%)

, LLY

Eli Lilly

$79.47

0.38 (0.48%)

12:36
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INCY

Incyte

$68.72

0.31 (0.45%)

LLY

Eli Lilly

$79.47

0.38 (0.48%)

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GRUB

GrubHub

$103.01

1.32 (1.30%)

12:35
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GRUB

GrubHub

$103.59

1.9 (1.87%)

12:30
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LITE

Lumentum

$57.25

-1.65 (-2.80%)

12:27
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  • 02

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DHI

D.R. Horton

$43.22

0.2 (0.46%)

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  • 26

    Apr

12:25
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General news
NABE Business Conditions Survey showed strong sales expectations »

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Conference/Events
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PRTA

Prothena

$11.54

-25.35 (-68.72%)

, RHHBY

Roche

12:23
04/23/18
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Prothena, Roche analyst commentary  »

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PRTA

Prothena

$11.54

-25.35 (-68.72%)

RHHBY

Roche

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VZ

Verizon

$48.36

0.44 (0.92%)

, T

AT&T

$34.76

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Verizon

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TMUS

T-Mobile

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TWX

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AMZN

Amazon.com

$1,535.44

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TCEHY

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DIS

Disney

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NCR

NCR Corp.

$31.52

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DHI

D.R. Horton

$43.11

0.09 (0.21%)

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MMM

3M

$217.06

-0.66 (-0.30%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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DHI

D.R. Horton

$43.13

0.11 (0.26%)

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  • 26

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EEM

MSCI Emerging Markets Index

$47.17

-0.1 (-0.21%)

12:10
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EDU

New Oriental Education

$89.56

-1.53 (-1.68%)

12:05
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