UPDATE: Topeka Capital Markets Raises PT to $69 on FQ2 Billings Growth

Loading...
Loading...
Topeka Capital Markets maintained Palo Alto Networks
PANW
with a Buy rating and raised the price target from $65.00 to $69.00. Topeka Capital Markets commented, "We are reiterating our Buy rating and raising our target price to $69 (from $65) to reflect an increase in our FY13 and FY14 estimates. While revenue growth accelerated as expected in 2Q, the YoY 70% increase was above our 64% estimate. Even more spectacular was the 82% YoY increase in billings in 2Q which compared to 45% YoY growth in 1Q and our 66% estimate." Palo Alto Networks closed at $58.55 on Friday.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsTopeka Capital Markets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...