Palo Alto Networks rises even as Wedbush removes from Best Ideas List
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Palo Alto Networks (NASDAQ:PANW) shares rose around 0.5% in pre-market trading on Monday even as investment firm Wedbush Securities removed the cybersecurity firm from its Best Ideas List.
Wedbush, which has an outperform rating on Palo Alto Networks (PANW) shares, noted the valuation of the stock, citing the belief that near-term upside is "limited" due to worries over growth.

In June, Wedbush said channel checks showed the company's cloud platform is set for the "next stage of growth."
Palo Alto (PANW) shares fell sharply on Friday after competitor Fortinet (FTNT) cut its full-year guidance.
Palo Alto Networks (PANW) is slated to report fiscal fourth-quarter results on August 18. A consensus of analysts expect the company will earn $1.29 per share on $1.96B in revenue.

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