Palo Alto Networks (NYSE:PANW) is a top stock to watch. The company responsible for creating and terming the Next-Generation Firewall (NGFW) market back in 2005 is now busy impressing the market with its platform-based approach and hybrid SaaS model. Although shares tanked in November/December (from $164 to $125) following disappointing fiscal Q1 report and Q2 guidance, prices have since recovered to $155 as the market regains its confidence. Let’s see why:
PANW’s endpoint security solution Traps was first introduced to the market back in 2014. Palo Alto believes that traditional antivirus (AV) security measures can no longer stop today’s cyber attacks. In contrast to AV, Traps employs a “multi-method prevention”: a combination of malware and exploit prevention methods designed to pre-emptively block known and unknown threats.
As of FQ1, the Traps module has 600 customers, up from 300 at the last PANW analyst day, and this number is expected to grow as the company…