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Fly News Breaks for February 25, 2020
Feb 25, 2020 | 08:14 EDT
Morgan Stanley analyst Keith Weiss lowered the firm's price target on Palo Alto Networks to $300 from $315 and keeps an Overweight rating on the shares, stating that the shortfall in core Firewall sales gives fodder to bears in the debate on the durability of the company's long-term growth. While he is "frustrated" by the company's inconsistency, he continues to view firewall growth issues as execution related and still has confidence in the potential for firewall growth to bounce back. Meanwhile, Weiss thinks the secular story remains intact, noting that the Next Gen Cloud platform was up 101% year-over-year. He lowered his price target on Palo Alto shares to $300 from $315 following the quarterly report, but keeps an Overweight 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.