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Palo Alto Networks' CEO Hosts Analyst Day (Transcript)Mar. 21, 2013
PR Newswire (Fri, 9:00AM)
PR Newswire (Thu, 9:00AM)
PR Newswire (Mar 26, 2014)
at CNBC.com (Mar 24, 2014)
at Fox Business (Mar 24, 2014)
PR Newswire (Mar 24, 2014)
Delaware District Court Declares Mistrial In Patent Infringement Lawsuit Initiated By Juniper NetworksPR Newswire (Mar 7, 2014)
PR Newswire (Mar 5, 2014)
at Fox Business (Feb 24, 2014)
PR Newswire (Feb 24, 2014)
PR Newswire (Feb 20, 2014)
at CNBC.com (Feb 20, 2014)
PR Newswire (Feb 18, 2014)
PR Newswire (Feb 12, 2014)
at CNBC.com (Feb 11, 2014)
PANW vs. ETF Alternatives
Palo Alto Networks Inc is engaged in providing network security with its innovative platform that allows enterprises, service providers, and government entities to secure their networks and safely enable the applications running on their networks.
Monday, Apr 149:52 AM
Monday, Apr 149:52 AM| Comment!
- Stratasys (SSYS +1.5%) has been started at Buy by Goldman, and 3D Systems (DDD -3.1%) at Neutral. Shares of both companies (like those of many high-beta tech names) were clobbered last week. UBS issued similar opinions for Stratasys and 3D Systems two weeks ago.
- VMware (VMW +1.3%) has received a two-notch upgrade to Outperform from CLSA ahead of its April 22 Q1 report.
- F5 (FFIV +4.1%) has been upgraded to Buy by Stifel. Q1 results arrive on April 23.
- Palo Alto Networks (PANW +1.2%) has been upgraded to Overweight by both Barclays and Stephens.
- TTM Technologies (TTMI +3.1%) has been upgraded to Buy by Stifel and UBS.
- CalAmp (CAMP +1.7%) has been upgraded to Buy by B. Riley.
- STMicroelectronics (STM -2.3%) has been cut to Sell by UBS. Q1 results arrive on April 29.
- AudioCodes (AUDC +4.1%) has been started at Buy by Needham. Shares rose last week after the Israeli government approved an R&D program involving the company.
- ChannelAdvisor (ECOM +1.2%) has been started at Buy by Janney.
- Paylocity (PCTY +1.4%) has received five bullish ratings and one neutral rating on underwriter coverage day. Q2 (QTWO +3.1%) has received six bullish ratings.
Thursday, Apr 104:01 PM
Thursday, Apr 104:01 PM| 16 Comments
- Following a two-day rebound, high-beta tech stocks are seeing monumental losses once again. The Nasdaq is closing with its biggest one-day decline since 2011 (eclipsing last week's 110-point drop).
- Security hardware/software providers were hard-hit following Imperva's (IMPV -43.8%) big warning: FEYE -11.6%. PANW -6.4%. PFPT -9.8%. FFIV -4.7%. KEYW -6.5%. FTNT -6.9%. QLYS -10.4%.
- Other high-beta enterprise names didn't fare much better: DATA -10%. SPLK -10.3%. WDAY -9.3%. VRNS -8%. EOPN -7.9%. FIO -7.6%. BLOX -9.7%.
- Major Internet decliners: P -11%. YELP -10.6%. ZNGA -6.6%. YY -7.3%. QIHU -9.3%. SINA -6.6%.
- Solar: TSL -10.4%. CSIQ -10.4%. JKS -7.9%. SPWR -7.4%. JASO -6.8%. CSUN -8.2%.
- 3D printing: DDD -10.6%. VJET -13.3%. ONVO -8.1%. XONE -7.7%. SSYS -6.7%.
Wednesday, Apr 95:39 PM
Wednesday, Apr 94:17 PM
Wednesday, Apr 94:17 PM| 2 Comments
- Imperva (IMPV) expects Q1 revenue of $31M-$31.5M, below prior guidance of $36M-$37M and a $36.7M consensus. EPS is expected to come in at -$0.40 to -$0.44 vs. prior guidance of -$0.33 to -$0.37 and a -$0.35 consensus.
- The security software vendor blames "extended sales cycles on deals over $100,000," especially in the U.S. "Intensified competition for large orders" and sales execution issues contributed to the lengthy sales cycles.
- Q1 results are due on May 1.
- Off in sympathy: FEYE -3.5% AH. PANW -1.2%. KEYW -1.8%.
Tuesday, Apr 84:00 PM
Tuesday, Apr 84:00 PM| 4 Comments
- Smart bargain hunting or catching a falling knife? After being bludgeoned almost ceaselessly over the last couple of weeks, many high-beta tech stocks are closing the day with sizable gains.
- The rebound comes on a day when hedge fund Coatue Management announced plans to return over $2B to investors following a 9% March decline caused by tech stock losses. It also comes as several tech giants, including Apple, Microsoft, H-P, and IBM, finish the day near breakeven, or with modest losses.
- Leading U.S. Internet gainers: LNKD +6.2%. P +6%. ZU +5%. SALE +7.2%. SSTK +6%. AOL +4.6%.
- Chinese Internet gainers: EJ +9.1%. WBAI +8.9%. QIHU +7.9%. ATHM +8.1%. YY +6.8%. SFUN +8.7%. GOMO +9.8%. Ctrip and Qunar were among the sector's biggest gainers following M&A rumors.
- Others: FSLR +7%. NMBL +6.2%. NPTN +5.9%. PANW +5.5%. EGHT +5.4%. RFMD +4.9%. QIWI +4.9%. CRUS +4.3%. RALY +5.5%.
Thursday, Apr 33:57 PM
Thursday, Apr 33:57 PM| 10 Comments
- Today's rout in tech momentum names (the latest in a string) has been especially harsh on enterprise cloud software, security, and big data/analytics plays.
- Major cloud software decliners: NOW -11%. WDAY -9.6%. N -6.5%. CNQR -7.2%. SAAS -6.3%. TXTR -6.3%. ULTI -5.5%. DWRE -8%. MKTO -6.2%. CSLT -9%. RALY -7.2%.
- Salesforce (CRM -4.1%) is following the group lower after announcing plans to offer industry-specific cloud software solutions. Pac Crest thinks Salesforce's top-line will benefit, but is cutting its EPS estimates on margin concerns.
- Security decliners: FEYE -10.3%. PANW -8.2%. KEYW -5.7%.
- Big data/analytics decliners: DATA -7.4%. SPLK -6.9%. QLIK -4.1%. Splunk's selloff comes in spite of a two-notch CLSA upgrade to Outperform.
Tuesday, Apr 112:06 PM
Tuesday, Apr 112:06 PM| 2 Comments
- "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.
Tuesday, Mar 259:37 AM
Tuesday, Mar 259:37 AM| 6 Comments
- Himax (HIMX -8.6%) has received a two-notch downgrade to Underperform from BofA/Merrill. The firm is worried about tough competition in multiple markets, and thinks margin expansion will be difficult without a major ramp in LCoS microdisplay volumes.
- ReneSola (SOL +2.1%) has been upgraded to Buy by Roth. Shares followed momentum plays lower yesterday in spite of a strong Q4 beat and guidance for 2014 module shipments of 2.3GW-2.5GW (up from 2013's 1.73GW).
- Palo Alto Networks (PANW +2.9%) has been upgraded to Outperform by FBR a day after announcing it's buying endpoint security startup Cyvera for $200M. FBR praised the deal, while arguing more security M&A could be on tap.
- Alliance Fiber (AFOP +6%) has been started at Buy by Needham.
- Varonis Systems (VRNS +4.9%) has received four bullish ratings and no neutral/bearish ones on underwriter coverage day. Shares are still down sharply from their post-IPO high of $56.80, but remain well above their $22 IPO price.
Monday, Mar 246:25 PM
Monday, Mar 246:25 PM| 4 Comments
- Though Palo Alto Networks' (PANW -4.3%) $200M acquisition of endpoint security startup Cyvera might lower its 2014 EPS by 10% and 2015 EPS by 20%, it also stands to increase the company's addressable market by a quarter to ~$20B, thinks FBN's Shelby Seyrafi.
- "We view this acquisition as a logical expansion of the company’s end market that enhances its ability to provide end-to-end threat protection," says Baird's Jayson Noland. He notes Palo Alto's management plans to create an "overlay sales force" to sell endpoint security solutions.
- FBR's Daniel Ives sees the deal, the latest in a string of high-profile security acquisitions (I, II), as part of a "massive consolidation in the security landscape" set for 2014. He thinks Fortinet (FTNT), Proofpoint (PFPT), and Imperva (IMPV) could be among the companies snapped up this year by larger tech firms.
Monday, Mar 2411:38 AM
Monday, Mar 2411:38 AM| Comment!
- Palo Alto Networks (PANW -4.2%) is acquiring Israeli cybersecurity startup Cyvera for $200M. The deal is expected to close in 2H14.
- Cyvera attempts to prevent zero-day attacks via software installed on Windows endpoints (PCs, servers) that scans for known exploit techniques. The company asserts is solution is superior to alternatives that require a threat to be triggered before action is taken.
- The purchase comes on the heels of FireEye's (FEYE -7.1%) purchase of leading endpoint security software/services firm Mandiant; that deal has a value of $1.5B+, after factoring the post-acquisition gains seen by FireEye's shares. Symantec and Cisco's Sourcefire unit also offer endpoint security solutions.
- Much as FireEye aims to integrate Mandiant's software/services with its threat-prevention hardware and services, Palo Alto plans to integrate Cyvera's software with its next-gen firewalls and cloud-based security services (e.g. WildFire).
- Palo Alto: "Cyvera is an absolute standout. They’ve come up with a completely different approach: one that will forever change the endpoint security industry ... they’ve successfully stopped every published zero-day attack since they first began deploying their product."
- Palo Alto bought threat-intelligence startup Morta Security in January. Both Palo Alto and FireEye are selling off on a rough day for tech stocks.
Wednesday, Mar 125:54 PM
Wednesday, Mar 125:54 PM| Comment!
- For now at least, Juniper (JNPR +0.4%) isn't showing any signs it's ready to settle with Palo Alto Networks (PANW +1%) after a mistrial was declared last week for its huge patent suit.
- "We look forward to presenting our case to a new jury in the near future," the networking/security hardware vendor declares in a statement.
- Meanwhile, Elliott Management has disclosed its Juniper stake is now at 7.4%, up from the 6.2% position it announced in January. Since Elliott's original announcement, Juniper has largely granted the firm's wish list. (13D)
Friday, Mar 74:34 PM
Friday, Mar 74:34 PM| 16 Comments
- Palo Alto Networks (PANW +10.9%) is within striking distance of its post-IPO high of $79.99 after a mistrial was declared for rival Juniper's (JNPR -0.6%) infringement suit against the company. The judge presiding over the suit has instructed lawyers from both parties to meet to determine their next moves.
- FBR calls the decision a big "sigh of relief" for Palo Alto investors. Ahead of the mistrial announcement, Citi was already arguing the odds of a settlement had grown, given a judge's ruling that no second trial covering indirect infringement would occur.
- Citi even thinks a cross-selling deal between Palo and Juniper is possible, given Juniper's recent struggles in the branch office firewall market.
- Palo Alto's official statement
Friday, Mar 72:44 PM
Friday, Mar 712:19 PM
Friday, Mar 712:19 PM| Comment!
- Jury deliberations are continuing for Juniper's (JNPR -0.6%) huge patent infringement suit against Palo Alto Networks (PANW +4.6%). Palo Alto shares have spiked higher on hopes of a favorable outcome.
- Juniper has alleged Palo Alto's next-gen firewalls (taking share from Juniper, Cisco, and others) infringe on IP developed by Palo Alto's founders when they were working at NetScreen (acquired by Juniper in 2004).
- Palo Alto shares jumped in early February after the court handling the suit denied a Juniper infringement motion, and granted two Palo Alto motions for summary judgment.
Tuesday, Feb 2511:12 AM
Tuesday, Feb 2511:12 AM| 1 Comment
- A day after posting an FQ2 beat, Palo Alto Networks (PANW -0.2%) has announced it's forming a new reseller deal with VMware (VMW, EMC), and that the companies have begun offering a solutions that meshes the former's virtualized next-gen firewall (runs on servers making use of virtualization software such as VMware's) with the latter's NSX network virtualization/SDN platform (announced last year)
- Palo Alto and VMware assert the solution, which also features management software and security services, allows for a single point of management for security services, policies, and threats. Earlier this month, Palo Alto expanded its partnership with Citrix to cover its virtualized firewalls.
- Palo Alto shares have largely shrugged off a valuation-driven downgrade to Hold from Gabelli today. The firm is upping its FY14 (ends in July) revenue estimate by $12M to $574M in response to the FQ2 report, but considers Palo Alto's fair value to be $70/share (7x FY15E EV/sales).
Monday, Feb 249:11 AM
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wheelz23:: yeah, that was a sneaky pump n dump by the banksters
Ta0:: I wasn't expecting the secondary, immediately followed by end of lockout. Oh well. I'll hold until it recovers. Not panicking at all.