Citing its next-generation firewall and “multiple drivers of sustained growth,” equity research firm Janney Capital Markets initiated coverage of Palo Alto Networks (PANW) on Monday with a buy rating and a 12-month fair value of 123. “In our opinion, Palo Alto Networks has simply built a ‘better mouse trap’ in a large and growing market for network security,” Janney Capital analysts Bill Choi and Robert Simmons said in a research report. “The
Cisco Systems is accelerating its push into corporate security. On Tuesday, the No. 1 maker of computer networking gear is expected to launch a set of revamped hardware and software security products to help thwart growing cyberattacks against companies worldwide and beef up its offerings vs. growing competition from rivals including Check Point Software Technologies (CHKP), Palo Alto Networks (PANW) and Fortinet (FTNT). The Cisco Systems (CSCO)
Nearly a dozen analysts boosted their price targets for Palo Alto Networks (PANW) stock Wednesday after the security company late Tuesday reported a strong fiscal Q4 and bullish Q1 sales guidance. Palo Alto Networks stock was up 8.5% in midday trading in the stock market today and touched a record high of 97.29. “In (fiscal Q4 ended July 31), Palo Alto Networks posted impressive billings growth acceleration, with 64% growth year over year, up from