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Palo Alto Networks (PANW -2.9%) has gradually sold off after Nomura launched coverage with a...
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Tuesday, November 20, 2012, 3:37 PM ETPalo Alto Networks (PANW -2.9%) has gradually sold off after Nomura launched coverage with a Neutral. Altogether, five firms have adopted neutral stances on Palo Alto since Oct. 9 and 11 since the company's July IPO, generally on valuation grounds. Thanks partly to a secondary offering and Oct. quarter guidance that failed to meet very high expectations, Palo Alto shares are off nearly 30% from their September highs.
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