Palo Alto Is a Cybersecurity Behemoth With Many Security Arrows in Its Quiver

We view Palo Alto Networks as a leader in cybersecurity, with platforms spanning network security, cloud security, and security operations. We believe the firm stands to materially benefit from secular tailwinds across its three key end markets as cloud migrations, the shift to zero-trust security, and increased automation in cybersecurity increase Palo Alto’s value proposition to its clients. In our view, the firm’s sticky platforms, combined with the broad range of its cybersecurity solutions, have helped Palo Alto build a wide economic moat around its business.