Fly News Breaks for February 25, 2020
Feb 25, 2020 | 08:50 EDT
DA Davidson analyst Andrew Nowinski lowered his price target on Palo Alto Networks to $210 and kept his Neutral rating after sales execution issues in Q2 saw the company miss on its product revenue results. The analyst further notes that the management does not expect product revenue growth to return until Q4, adding that while the stock could benefit from increasing subscription revenue component, product revenue remains a material portion of total. Nowinski adds that the declines "significantly" weigh on Palo Alto's overall growth and free cash flows.
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.