Coverage summary
Aardvark Labs Capital Research has covered Palo Alto Networks (PANW) since August 19, 2025. The company is in the Technology sector. This page lists 5 reports: 5 earnings recaps.
The latest is the Q4 FY26 Earnings Recap, published September 3, 2026. That report moved the rating from Outperform to Hold. The rating has changed twice since coverage began.
Translations: 5 in Chinese.
The Excel model for PANW holds 20 quarters and 5 fiscal years of history and 8 quarters and 5 fiscal years of projections. It was last updated October 19, 2026.
Rating history
All PANW reports
Recap: Q4 FY26
Everything Beat and the Stock Fell 9%: Gross Margin and a Lower FY27 Cash-Flow Guide Puncture a 79x Multiple. Downgrading PANW to Hold
Recap: Q3 FY26
The Thesis Plays Out: A Record Quarter, Guidance Raised Across Every Metric, Both Deals Beating Plan, and "Mythos" Lifts the Terminal Value of Cybersecurity — Maintaining PANW at Outperform
Recap: Q2 FY26
The Overhang Resolves Into a Cheaper Entry: Both Deals Close, the Dilution Is Finally on the Page, and the Stock De-Rates to ~$150 — Upgrading PANW to Outperform
Recap: Q1 FY26
Beat, Raise, and a $20B FY30 Target — and the Stock Falls Anyway: A Second Multi-Billion-Dollar Deal Stacks the M&A Risk on an Already-Full Multiple. Maintaining Hold
Recap: Q4 FY25
Initiating Palo Alto Networks at Hold: A Best-in-Class Operator Crosses 30% Margins and Re-Accelerates Bookings — But a $25B Identity Bet, a Founder's Exit, and a Full Multiple Cap the Entry