Financial Trading Blog
Stock of the day 21/11/2014 – Palo Alto Networks
A data breach is a PR nightmare, and can seriously harm the reputation of the company involved; just ask Target, who suffered one such breach last Christmas. Palo Alto Networks is there to help. The company has seen its stock prices grow by 87% in 2014, aided by the misfortune of those companies that have suffered at the hands of internet hackers. Its shares have been on a steady rise since it hit a yearly low of $57.495 in May, and its current position is a far cry from this time last year, when it was trading at around $41.00.
At the start of the week Palo Alto Networks’ shares reached a record high of $112.125, but have slipped as the week went on, closing out Thursday at $109.03. Yesterday saw Carousel Industries, a unified communications, managed services, data solutions and security company, announce its decision to carry Palo Alto Networks’ services, bringing Palo Alto’s portfolio to the entirety of Carousel’s cliental. Similarly, Agari the email cyberthreat solution company has agreed to share its email-threat-intel with Palo Alto Network, further increasing the latter’s standing in the sector.
These moves should boost Palo Alto, and expected revenue is predicted to be up to $181.70 million for the first quarter. This comes after seeing its fiscal 2014 end with a 59% growth in revenue, dwarfing the revenue growth of its biggest rivals Cisco and Juniper. Analysts at Oppenheimer, Citigroup and Nomura have all lifted Palo Alto’s target price to $120.00 from between$ 100.00-$115.00 at the end of this week, suggesting strong posting next Monday. As data breaches become a greater and more frequent threat, Palo Alto Networks will be hoping it can continue to help plug these leaks, and make a healthy profit in turn.
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