Palo Alto Networks (PANW) fiscal Q2 probably will be better than expected on strong performance in its security systems, improved success rates and successful platform trials, RBC Capital Markets said Monday in a report.
The focus will mainly be on updates to the platform strategy, potential for market share change during a firewall upgrade cycle and progress with next-generation sequencing, RBC said. Results are due Thursday.
A possible firewall refresh cycle among competitors, including Check Point Software Technologies (CHKP) and Fortinet (FTNT), may trigger share-shift opportunities for Palo Alto Networks, RBC said.
RBC kept its outperform rating on Palo Alto's stock with a price target of $225.
Palo Alto shares rose 1.1% in recent Monday trading, Check Point Software gained 0.8% and Fortinet climbed 2.9%.
Price: 196.09, Change: +2.15, Percent Change: +1.11
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