Palo Alto Networks Inc (NYSE:PANW), the next-generation security company, today announced from our annual sales kickoff event new executive appointments.
Dave Peranich joins the company as our new executive vice president, Worldwide Sales, reporting to Mark Anderson. Dave is a proven sales leader and his focus on sales and the channel will provide even more capacity for our growth.
Mark Anderson has been promoted to president with responsibility for the company’s sales, go-to-market strategy, customer support, and business development, reporting to Mark McLaughlin, chairman and CEO. Over the last four years, Mark Anderson’s leadership of our sales organization has been instrumental to our growth. This expansion of his responsibilities will bring to bear his expertise and experience on a broader basis across the market.
- “Since inception, we have consistently designed the organization for focus and capacity as we rapidly scale, significantly outpace industry growth rates, and quickly acquire market share. I am delighted with these appointments that will enable us to continue our march to be the leading global security company and seamlessly scale our organization. I look forward to working with both Mark and Dave for years to come.”
– Mark McLaughlin, chairman and CEO, Palo Alto Networks
- “I am proud to take on the role of president and excited to lead our go-to-market success. We went through an extensive search process to find the right leader for our sales organization who can provide maximum focus as we scale, and Dave is the ideal addition to the team. Sales kickoff is the perfect venue to have Dave join our thousands of sales professionals and channel partners to assume leadership in our new fiscal year. I look forward to continuing our successful go-to-market track record and helping more organizations around the world prevent cyber breaches.”
– Mark Anderson, president, Palo Alto Networks
- “I am thrilled and honored to be joining Palo Alto Networks. With our natively integrated and highly automated next-generation security platform, the company has delivered unprecedented growth to date, and I look forward to leading the sales and channel organization as we expand our global reach and redefine security in the digital age.”
– Dave Peranich, executive vice president, Worldwide Sales, Palo Alto Networks
Most recently, Dave held several sales leadership roles over a nine-year tenure at Riverbed Technology, including senior vice president, Worldwide Sales; executive vice president, Worldwide Field Operations; and president, Worldwide Field Operations. His wealth of experience also includes leadership positions at Centrata,Siebel Systems, Remedy Corporation and Oracle, among others.
Along with Mark Anderson, Dave will be joining the entire sales organization and more than 800 of our channel partners at our annual sales kickoff this week. Dave will be based in the Santa Clara, California, headquarters.(Original Source)
Shares of Palo Alto closed last Friday at $136.74, down $0.35 or -0.26%. 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 $128.66 and its 200-day moving average is $137.67.
On the ratings front, PANW has been the subject of a number of recent research reports. In a report issued on August 19, Barclays analyst Saket Kalia reiterated a Buy rating on PANW, with a price target of $184, which represents a potential upside of 34.6% from where the stock is currently trading. Separately, on the same day, RBC’s Matthew Hedberg reiterated a Buy rating on the stock and has a price target of $185.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Saket Kalia and Matthew Hedberg have a total average return of 4.3% and 5.5% respectively. Kalia has a success rate of 55.0% and is ranked #1287 out of 4122 analysts, while Hedberg has a success rate of 60.6% and is ranked #583.
The street is mostly Bullish on PANW stock. Out of 21 analysts who cover the stock, 17 suggest a Buy rating and 4 recommend to Hold the stock. The 12-month average price target assigned to the stock is $186.10, which represents a potential upside of 36.1% from where the stock is currently trading.
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.