TMTB: PANW RNG First Takes
PANW -13% with slight rev beat but weak revenue and billings guide. This is a crowded long near highs and expectations were high given positive checks so won’t be received well.
RPO "only" grew 20% vs. 25% last q and 29 and 33% prior 2 Qs so can’t just blame on billings…
As a reminder they blamed shorter duration on deals last q — we’ll see how CEO expla…
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