Palo Alto Announces a New CEO Amid 3Q Product Revenue Strength; Raising FVE to $190
No-Moat Palo Alto Networks reported durable third-quarter results after pre-announcing revenue and billings on June 1, and we are raising our fair value estimate to $190 per share from $182 previously due to an acceleration in product revenue growth. Product revenue grew 30% year over year for the quarter, with guidance now calling for 20% growth for total fiscal 2018. While this slightly affected our thesis around a shift from Product to Subscription revenue, especially as the increased Product...Palo Alto Networks provides a platform that allows enterprises, service providers, and government entities to secure their organizations. The company's platform uses a traffic classification engine that identifies network traffic by application, user, and content and provides security across the network, endpoint, and cloud. The company's product, subscription, and support offerings include: firewall appliances and software; and Panorama, which is a centralized security management solution for global control of various firewall appliances and software deployed on an end-customer's network as well as in their instances in public or private cloud environments as a virtual appliance or a physical appliance.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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