Barclays likes the set up of Palo Alto Networks Inc
In the last quarter, Palo Alto grew billings 45 percent, which led the brokerage to forecast 43 percent growth in the first quarter, or $556 million.
“The Street is lower at ~$525M, so we could see a nice beat. Carrying that further, billings upside should take FCF estimates up and that is what should drive price targets, in our view,” analyst Saket Kalia wrote in a note.
Kalia has an Overweight rating on the stock, with a price target of $200.
Meanwhile, the analyst said product revenue would be another key focus for investors as the company faces tough comparisons in the first half of 2017, which should grow slower than the second half due to comparables, refresh, and service provider. The company guided to product revenue growth of 12-13 percent for FY 2017.
Further, Kalia expects to hear more about TRAPS after Palo Alto earned certified
Separately, JMP Securities analyst Erik Suppiger Cisco Systems, Inc.'s NASDAQCSCO upgrading of its installed base from its traditional firewalls to next-generation firewalls
|Sep 2016||Rosenblatt||Initiates Coverage on||Buy|
|Aug 2016||Morgan Stanley||Maintains||Overweight|
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