NEW YORK (TheStreet) -Palo Alto Networks makes its debut as a public company on Friday amid high expectations for the security specialist.
The Santa Clara, Calif.-based company's IPO was priced at $42 a share late on Thursday, just days after raising its offering price to between $38 and $40 a share.
"This is a good IPO -- it's 40 times oversubscribed," Scott Sweet, senior managing partner of IPO Boutique, told TheStreet. "The numbers on Palo Alto are outstanding -- of all the cloud-based IPOs that have debuted in 2012 and prior, the numbers in growth in the top and bottom line stand apart."
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