Palo Alto rallies as Street praises analyst day

"We walked into Palo Alto Networks' (PANW +3.6%) analyst day positive on the consolidation opportunity in network security. We walk out thinking Palo Alto Networks has a very real shot at making the expansion into the $4B [endpoint security] market work," writes Morgan Stanley's Keith Weiss, reiterating an Overweight and $90 PT.

Weiss, who thinks Palo Alto's multiples still don't properly reflect its growth, says the next-gen firewall vendor "remains a top pick in software." His note comes a week after Palo Alto announced it's buying endpoint cybersecurity startup Cyvera for $200M.

In its analyst day slides (.pdf), Palo Alto estimated its total addressable market will grow to $19.5B in 2017 from $15.8B in 2014.

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Comments (2)
  • wil3714
    , contributor
    Comments (2367) | Send Message
    Without a doubt in top 5in sec app space
    2 Apr 2014, 12:26 AM Reply Like
  • Sirvasq
    , contributor
    Comments (331) | Send Message
    What a difference 2 days makes! Down $11. Where to from here?
    4 Apr 2014, 03:36 PM Reply Like
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