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Palo Alto, CyberArk up big following Fortinet's earnings/guidance

Jan. 29, 2016 1:00 PM ETPalo Alto Networks, Inc. (PANW) StockPANW, CYBRBy: Eric Jhonsa, SA News Editor2 Comments
  • Palo Alto Networks (PANW +6.4%) and CyberArk (CYBR +7.4%) are posting big gains after security tech peer and Palo Alto rival Fortinet (up 6.6%) provided above-consensus 2016 sales guidance - Q4 sales were roughly in-line - and issued 2016 billings guidance (could be conservative, given Fortinet's history) that implies 23% Y/Y growth.
  • Fortinet's numbers arrived shortly after Check Point (another Palo Alto rival) beat Q4 estimates and offered in-line Q1/2016 guidance - forex has been a big sales headwind for the company, due to its heavy non-U.S. exposure.
  • CyberArk, reported earlier this month to be in preliminary buyout talks with Check Point, delivers its Q4 report on the afternoon of Feb. 11. CEO Udi Mokady recently told Reuters CyberArk remains focused on growing independently, while promising his company "will always do what's right for our shareholders."

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