Key Takeaways From Palo Alto Networks’ Investor Call
<p>Analysts at RBC Capital provided their key takeaways from the investor call with the management of <a href='https://financialmodelingprep.com/financial-summary/PANW'>Palo Alto Networks, Inc. (NASDAQ;PANW)</a>, noting they came away feeling positive about the demand environment and the company’s positioning.</p>
<p>The analysts believe the company remains well-positioned to consolidate security spend with a fast-growing NGS business in addition to a durable FWaaS business. </p>
<p>Despite supply chain challenges, management noted a healthy product backlog, as trends could improve further as supply chains normalize. Longer-term, management remains committed to driving a mid-single-digit CAGR target for product revenue through fiscal 2024.</p>
<p>Overall, the analysts believe the company has navigated well despite a challenging supply chain environment as they remain impressed with the resiliency of product growth including increased 2022 product revenue guidance to high-teens growth vs. mid-teens previously.</p>

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