Stock price when the opinion was issued
He used to own CHKP. Both PANW and FTNT are strong businesses, market leaders in the space and taking market share away from CHKP.
Challenge is that PANW and FTNT are really strong in this industry. Good for the consumer, but may not be good for the businesses in that space. At 46x PE, PANW is really expensive, growth needed to justify that valuation is substantial, high valuation keeps him on the sidelines.
Look at the space as a whole to see if you want to be involved, rather than choosing just one player. Does like the aspect of customer "stickiness" in that once a customer signs up, switching costs are high.
A cybersecurity name that flies beneath the radar. A reasonable 30x PE.