BTIG tells investors in a research note that the firm’s Q3 preview checks with nine industry contacts, which combine for more than $1B in annual Palo Alto Networks (PANW) sales, were soft, skewing negative for the quarter, a clear downtick from the firm’s work heading into Q2. The firm doesn’t expect a miss on the Q3 print, but sees limited upside to forecasts and sees little room for Palo Alto to increase guidance on revenue and next-generation security annual recurring revenue. BTIG has a Neutral rating on the shares.
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