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Palo Alto Networks (PANW) Stock Up, Davidson Lowers Estimates Ahead of Q4 Earnings

NEW YORK (TheStreet) -- Shares of Palto Alto Networks (PANW) were increasing in late morning trading on Tuesday as Davidson trimmed its outlook ahead of the company's 2016 fourth quarter earnings due out after today's market close.

The firm now expects the Santa Clara, CA-based network and enterprise security company's fourth quarter revenue to grow year-over-year to $386.9 million, compared to its prior estimate of $393.1 million.

Palo Alto Networks projects revenues of $386 million to $390 million for the quarter.

Davidson also projects billings of $587.8 million, or an increase of 49% year-over-year, and earnings of 48 cents per share.

Last year, the...