While Palo Alto Networks (NYSE:PANW) remains a leading company in the security market with ongoing market share gains, I believe the stock has limited upside from current levels in the short term. I base this view on the lackluster overall industry growth in the security appliance market, slowing revenue growth for Palo Alto and the other pure play security appliance companies and a valuation that is likely already factoring in Palo Alto's high sales growth rate and earnings power potential. I also think that Palo Alto is not a likely an acquisition candidate given ongoing litigation risk. Finally, Palo Alto stock may be impacted by the planned IPO of competitor FireEye which filed its S-1 registration on August...
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