Palo Alto projects downbeat second-quarter billings, shares fall

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Go back to Palo Alto projects downbeat second-quarter billings, shares fall

Palo Alto Networks (PANW) downgraded at BofA on risk of prolonged billings pressure

November 17, 2023 5:30 AM EST

Bank of America analyst Tai Liani downgraded Palo Alto Networks (NASDAQ: PANW) shares to Neutral from Buy with a price target lowered by $25 to $265 per share.

The analyst cites a risk of additional pressure on billings and FCF.

With the stock up 85% YTD and risk of additional billings growth weakness and further... More