Fly News Breaks for February 25, 2020
Feb 25, 2020 | 07:21 EDT
Wedbush analyst Daniel Ives lowered his price target for Palo Alto Networks to $140 from $275 after the company reported weak Q2 results that missed on the top line due to the lingering sales incentive issues causing weaker product revenue and ultimately led to the company to lower its fiscal year 2020 guidance, which "will clearly" weigh on shares. While there was upside to margins and billings beat expectations, the focus of the Street will be squarely on the execution issues that led to the significant top line miss, he contends. Ives maintains an Outperform rating on the shares.
News For PANW From the Last 2 Days
Jun 4, 2020 | 09:32 EDT
Cleveland Research analyst Ben Bollin said his checks suggest that the momentum Palo Alto Networks had exiting April end quarter has extended into June, as he is hearing about favorable demand for next gen application deployments and "encouraging" appliance feedback. The analyst, who also said he is hearing the pipeline appears favorable, has a Buy rating on Palo Alto shares.