Updates - Palo Alto Networks 1Q23
Summary
* Despite marginal signs of macro headwinds, PANW remains resilient, delivering a great balance of growth and cash flow.
* Management have acknowledged toughening conditions but have increased their guidance – signaling they feel confident competing in a deteriorating economic climate.
* We do a usual strategy recap – breaking down the business and analysing the areas in which PANW is positioned to prosper.
* We believe the upside for PANW’s stock is substantial – a view we’ve maint