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Fly News Breaks for September 5, 2019
Sep 5, 2019 | 05:09 EDT
Palo Alto Networks' fiscal Q4 results "were a bit mixed" but guidance for 20% compound annual growth rates in both total billings and revenue from fiscal 2019 to 2022 is well above consensus, Jefferies analyst John DiFucci tells investors in a research note. He believes management alleviated key concerns following the billings miss last quarter, the potential negative impact of shorter average billing duration, and potential macro issues. DiFucci finds the valuation attractive and keeps a Buy rating on Palo Alto Networks with a $275 price target.