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UPDATE: Jefferies Initiates Palo Alto Networks at Hold; Growth with Matching Competition

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Jefferies initiated coverage on Palo Alto Networks, Inc. (NYSE: PANW) with a Hold rating and a $59.00 price target.

Jefferies commented, "Palo Alto has emerged as a franchise security name due to its differentiated product approach—annual revenue growth of 167% over the last three years produced the fastest share gains in the $6bn-plus market. Sustained above market growth will be further dependent on outright competitive displacements against incumbents that have responded to Palo Alto's innovation lead, narrowing the margin for error."

Palo Alto Networks closed at $52.81 on Monday.

Latest Ratings for PANW

DateFirmActionFromTo
Feb 2016Maxim GroupInitiates Coverage onBuy
Jan 2016Northland SecuritiesInitiates Coverage onOutperform
Dec 2015Evercore ISI GroupInitiates Coverage onBuy

View More Analyst Ratings for PANW
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Posted-In: JefferiesAnalyst Color Initiation Intraday Update Analyst Ratings

 

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