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Goldman Sachs Bullish on Palo Alto Networks (PANW)

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					Robert DeFrancesco’s
TechStockProspector.com
August 14, 2012


Goldman Sachs Bullish on Palo Alto Networks (PANW)
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*Strategy Update: Q2 tech earnings
*NetSuite firing on all cloud cylinders
*OpenTable delivers tasty results
*Unlocking value in Symantec
*Qlik Technologies navigates European slowdown
*Guidewire Software moves insurers to the cloud
*Is Akamai Technologies getting its momentum back?
*LinkedIn making social work
*Why some big money managers like Ultimate Software
*Assessing Citrix Systems amid the changing networking landscape
*Is Palo Alto Networks worth the price?
*Sourcefire builds its networking security deal pipeline
*Riverbed Technology bounces back on improved execution
*Acme Packet pushes out rebound hopes to 2013
*More new highs for one small-cap cloud-software player
*TSP Deal Report: Eloqua IPO revs up

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Goldman Sachs starts coverage of networking security vendor Palo Alto
Networks (PANW, $61.05) at ‘Buy’ with a price target of $78.

The firm is bullish based on the theory that Palo Alto is disrupting the $10-billion+
networking security market by replacing older technology with more-robust next
generation firewalls (NGFWs).

Goldman thinks investors are underestimating Palo Alto’s product differentiation
and growth sustainability.
However, Barclays is more cautious because of valuation, initiating coverage with an
‘Equal Weight’ rating and a price target of $58, saying the multiple is too rich even
though it expects meaningful revenue and margin upside from Palo Alto over the
medium term.

Palo Alto Networks came public last month at $42 a share and opened for trading at
$55.20.

For more on Palo Alto Networks and its growth prospects, see the August 2012
issue of Tech-Stock Prospector.

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iPad/iPhone reading app.

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Tech-Stock Prospector Managing Editor Rob DeFrancesco has more than 20
years of experience covering the tech sector. He is a former senior writer with
Louis Rukeyser’s Wall Street.

TechStockProspector.com, launched in 2003, is an investment-research service
focused primarily on the networking, storage, security, wireless and software
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DOCUMENT INFO
Description: Palo Alto is disrupting networking security