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.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
