Raymond James analyst Adam Tindle downgraded Palo Alto Networks to Market Perform from Outperform. Since May 2021, a period when Palo Alto Networks had underperformed peers, but the firm’s work suggested an upcoming period of broader platform sales with larger deal sizes that the firm thought would ultimately lead to a period of healthy growth and incremental profitability, the analyst tells investors in a research note. The firm maintains that Palo Alto Networks is a “great company” and that its execution has been “stellar.”
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