Ho reiterated his outperform rating on Proofpoint stock. But Pacific Crest analyst Rob Owens downgraded shares to sector weight, even while acknowledging Proofpoint's strong Q2 on market demand, weak competition and cloud adoption.
industry held their own Friday, Thill wrote that Palo Alto Networks' decline is likely to be perceived as a "harbinger for overall cybersecurity spending slowdown." Still, Pacific Crest analysts Rob Owens and Liz Verity wrote that the dip in Palo Alto Networks might be a buying opportunity for investors.
Date: May 27, 2016
Category: Business
Source: Google
Palo Alto Networks Dives On Slow Q2; Growth Rate 'Unsustainable'
Earlier Thursday, Pacific Crest analyst Rob Owens told IBD that Palo Altos remarkable growth rate wouldnt be sustainable long term, but he said that doesnt necessarily signal a slowdown in cybersecurity spending. Broadly, cybersecurity sales rose 13% year over year in Q1, he said.
cents a share in the third quarter. Palo Alto is a disruptive, next-generation security leader whose share gains should be evident in FQ3 results later this week. As comparisons get easier, the stock is likely to work higher, Rob Owens, an analyst at Pacific Crest Securities, said in a note.
share in the third quarter. Palo Alto is a disruptive, next-generation security leader whose share gains should be evident in FQ3 results later this week. As comparisons get easier, the stock is likely to work higher, Rob Owens, an analyst at Pacific Crest Securities, said in a note.