Palo Alto Networks Inc (NYSE:PANW), the next-generation security company, today announced the appointment of Naveen Zutshi as chief information officer (CIO). Zutshi will report to CFO Steffan Tomlinson and be responsible for managing IT at Palo Alto Networks.
- “I am pleased to welcome Naveen to the team; he is a thoughtful, pragmatic and results-oriented IT leader who brings proven IT expertise to our organization. We’re looking forward to his leadership in extending our IT capabilities in new and innovative ways that are strategically aligned with our business objective of having the right technology at the right place and the right time.”
– Steffan Tomlinson, CFO, Palo Alto Networks
- “Palo Alto Networks is a game changer in the cybersecurity space, and the company’s security platform plays an instrumental part in effectively securing thousands of organizations from successful cyber breaches. I’m excited to join the team and extend for the whole organization access to reliable, scalable IT infrastructure that enables continued business growth and exceptional customer satisfaction.”
– Naveen Zutshi, CIO, Palo Alto Networks
Prior to joining Palo Alto Networks, Naveen served as senior vice president of technology with Gap Inc. Before joining Gap, Naveen served as vice president of technology and operations for Encover, a SaaS CRM company, and held IT leadership roles with Cisco and Walmart. He holds a BE in computer engineering from Bangalore University and an MBA from the University of Arkansas. (Original Source)
Shares of Palo Alto Networks closed last Friday at $185.03, down $4.96 or -2.61%. PANW has a 1-year high of $200.55 and a 1-year low of $114.96. The stock’s 50-day moving average is $171.96 and its 200-day moving average is $174.49.
On the ratings front, Palo Alto Networks has been the subject of a number of recent research reports. In a report issued on December 3, FBR analyst Daniel Ives maintained a Buy rating on PANW, with a price target of $235, which represents a potential upside of 27.0% from where the stock is currently trading. Separately, on November 25, Argus’ Joseph Bonner upgraded the stock to Buy and has a price target of $227.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Daniel Ives and Joseph Bonner have a total average return of 3.9% and 9.2% respectively. Ives has a success rate of 52.9% and is ranked #583 out of 3618 analysts, while Bonner has a success rate of 69.4% and is ranked #394.
Overall, 3 research analysts have assigned a Hold rating and 16 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $210.50 which is 13.8% above where the stock closed last Friday.
Palo Alto Networks Inc offers an enterprise network security platform that allows enterprises, service providers, and government entities to secure their networks and safely enable applications running on their networks.