Palo Alto Networks’ Q3 Preview


RBC Capital analysts provided their outlook on Palo Alto Networks, Inc. (NASDAQ:PANW) ahead of Q3 earnings results, expected to be reported on May 19.
Following strong Q2 results and continued favorable security trends through the quarter, the analysts anticipate strong Q3 results driven by NGS and a firewall refresh that still remains in the early innings.
The analysts believe the results continue to elude impact from supply chain concerns, though accelerating demand trends could result in building backlog. The analysts look for full 2022-year guidance to move slightly higher, focusing on NGS ARR growth vs. +70% in Q2/22 and net-new ARR vs. $166 million in Q2/22 that was +98%.


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