Palo Alto Networks Inc (NYSE:PANW) announced the appointment of Mary Pat McCarthy to the company’s board of directors. She also will be joining the board’s audit committee.

Ms. McCarthy brings more than 34 years of experience to this position. She most recently served as vice chair of KPMG LLP, the U.S. member firm of the global audit, tax and advisory services firm. Starting with KPMG in 1977, she became partner in 1987 and held numerous senior leadership positions at the firm, including executive director of the KPMG Audit Committee Institute, leader of the KPMG Client Care Program, U.S. leader of Industries and Markets, and global leader of Information, Communication and Entertainment Practice.

Ms. McCarthy is a member of the Risk Advisory Committee of the National Association of Corporate Directors. She also co-chaired the National Association of Corporate Directors (NACD) Blue Ribbon Commission on talent development and co-authored multiple books on risk, strategy and business transformation.

In addition to this new appointment to the board of directors for Palo Alto Networks, Ms. McCarthy currently serves on the boards and audit committees forTesoro Corporation and Mutual of Omaha Insurance Company.

QUOTES

  • “Palo Alto Networks mission is very important to the security of the digital age, underscored by the company’s exceptional growth. I am delighted to be joining the Palo Alto Networks team and look forward to contributing to its continued success.”
    –   Mary Pat McCarthy, board member, Palo Alto Networks
  • “Mary Pat is a proven leader with extensive background in financial and accounting matters. As we continue to scale the company, her expertise will be a welcome addition to our board of directors.”
    –   Mark McLaughlin, chairman and CEO, Palo Alto Networks (Original Source)

Shares of Palo Alto closed today at $151.53, up $1.36 or 0.91%. PANW has a 1-year high of $194.73 and a 1-year low of $111.09. The stock’s 50-day moving average is $151.99 and its 200-day moving average is $138.87.

On the ratings front, PANW has been the subject of a number of recent research reports. In a report issued on October 7, Baird analyst Jayson Noland reiterated a Buy rating on PANW. Separately, on September 23, Wells Fargo’s Gray Powell reiterated a Buy rating on the stock.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jayson Noland and Gray Powell have a total average return of 9.0% and 16.2% respectively. Noland has a success rate of 58.5% and is ranked #490 out of 4190 analysts, while Powell has a success rate of 70% and is ranked #201.

The street is mostly Bullish on PANW stock. Out of 23 analysts who cover the stock, 20 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $181.13, which implies an upside of 20% from current levels.

Palo Alto Networks, Inc. engages in the provision of network security solutions. It offers network security functions which include threat protection, firewall, intrusion detection system, intrusion prevention system and uniform resource locator filtering.