13F +14% · SCHONFELD Institutional Filing Alert

Schonfeld Strategic Advisors (Ryan Tolkin · Fundamental & Quant Pods) added to PANW (+14% shares QoQ · 17.0% of 13F portfolio)

Form 13F-HR institutional holdings disclosure · Filed 2026-10-16

Schonfeld Holdings › All Filing Alerts › SEC Filing ↗

PANW

Palo Alto Networks, Inc.

$401.70

+$11.24 (2.88%)Oct 27 close

Information TechnologyS&P 500 Compare Technicals

Model valuationLeans expensiveDCF base $391

1M 3M 6M 1Y 2Y

PANWSPY

Wall St. Highest PT $525.00 (+30.7%) Wall St. Avg PT $398.52 (-0.8%)

Underwater Drawdown %Max DD -36.0%Current -4.3%

Relative Strength vs SPY+68.8% vs SPYOutperforming

+$61.42 (18.05%)

+$26.96 (7.19%)

+$82.70 (25.92%)

+$220.71 (121.95%)

YTD

+$217.50 (118.08%)

+$181.41 (82.35%)

Chart

Loading live chart…

Ratings & dials

1m · 5m · 15m · 1h · 4h · 1D

Analyst & Morningstar ratings

Consensus · Targets · Morningstar

Wall Street analyst consensus

Buy

55 analysts · mean score 1.69

1 = Strong Buy · 5 = Sell

Strong Buy3258%

Buy1018%

Hold1222%

Underperform00%

Sell12%

Wall Street consensus · as of Oct 16, 2026

Analyst price targets

Current price$401.70

Average target$398.52

−$3.18 (−0.8%) downsideaverage target vs current price

CurrentAverageMedian

Low$190.00

Median$415.00

High$525.00

12-month Wall Street target range · as of Oct 16, 2026

Third-party ratings, not SURVYR.'s views.

Health check

Financial health

Safe zone

Altman Z-score 8.3

Above 2.99 is the safe zone, below 1.81 the distress zone.

Quality

Average

Piotroski F-score 4 of 9

See the tests

✓Positive net income
✓Positive operating cash flow
✗Return on assets improved
✓Cash flow above net income
✓Long-term debt / assets fell
✗Current ratio improved
✗No share dilution
✗Gross margin improved
✗Asset turnover improved

Computed by SURVYR. from the company's SEC filings (latest balance sheet Jul 31, 2026). Descriptive, not a forecast.

Key stats & company

Market value$278.3B

P/E (last 12 months)850.7

P/E (next 12 months, estimated)69.7

52-week range$139.57 – $432.33

Revenue growth (latest quarter vs a year ago)+34.5%

Dividend yieldNo dividend

Analyst consensusBuy (50)

Average analyst price target$398.52 (-1%)

What they do

Palo Alto Networks, Inc. provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers Prisma Access, a secure access service edge solution; Strata Cloud Manager, a network security management solution; and Prisma AIRS to protect customers' entire AI ecosystem. It provides a comprehensive cloud native application protection platform.

Technology · Software - Infrastructure

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Leans expensive

Model read-out from the numbers below, not advice. Score -1 (DCF counts double).

•DCF (base case)below the price by 3%

▼Forward P/E vs sector69.7x vs median 17.3x

•Piotroski F-score4/9

▲Altman Z8.3 (safe)

▲Net debt / EBITDA-0.7x

•Analyst target-1% (50 analysts)

Discounted cash flow

Bear

$181

-55%

growth 16% · disc. 9.9% · term. 2.0%

Base

$391

-3%

growth 27% · disc. 8.9% · term. 2.5%

Bull

$727

+81%

growth 33% · disc. 7.9% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 20% a year for 10 years.

Implied

+20%/yr

FCF, last 3 yrs

+18%/yr

FCF, last 5 yrs

+25%/yr

Revenue, last 3 yrs

+19%/yr

Revenue, last 5 yrs

+22%/yr

Same inputs as the DCF above: trailing free cash flow 4.6B, 8.9% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2026; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (FY to 2026-07-31). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.93 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)

sector median 35.4× · 99th pct

850.7×
pricier

Forward P/E

sector median 17.3× · 97th pct

69.7×
pricier

EV / EBITDA

sector median 20.3× · 97th pct

178.9×
pricier

Price / sales

sector median 4.8× · 95th pct

24.2×
pricier

Price / book

sector median 5.2× · 73rd pct

10.1×
pricier

FCF yield

sector median 3.6% · 23rd pct

1.6%
pricier

Forward EPS $4.88 vs trailing $0.40 (+1120% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$21.2B

as of 2026-07-31

vs a year ago

+34%

YoY

× TTM revenue

1.85×

coverage

24-10

25-01

25-04

25-07

25-10

26-01

26-04

26-07

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

70.4%

Operating margin

6.1%

FCF margin

39.7%

Net margin

2.7%

Return on equity

1.1%

Return on invested capital

1.7%

Net debt / EBITDA

-0.7×

Current ratio

0.9×

Interest cover

–

Cash conversion (OCF/NI)

14.8×

Piotroski F-score 4/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✗ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 8.3 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$399

-1%

Analysts

Buy

Range

$190–$525

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2026	$11.5B	$307.0M	$4.6B
2025	$9.2B	$1.1B	$3.7B
2024	$8.0B	$2.6B	$3.3B
2023	$6.9B	$439.7M	$2.8B
2022	$5.5B	$-267.0M	$2.0B
2021	$4.3B	$-498.9M	$1.5B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +18.5%.

For information only · Important disclosures

Grades vs sector

Momentum

76th percentile in sector

B+

12-1 return: +80.4%
Percentile within its GICS sector across the S&P 1500.

Growth

79th percentile in sector

B+

Revenue growth (YoY): +34.5%
Percentile within its GICS sector across the S&P 1500.

Value

3rd percentile in sector

Forward E/P: 1.4% · EBITDA/EV: 0.6%
Percentile within its GICS sector across the S&P 1500.

Profitability

18th percentile in sector

Profit margin: +2.7% · Return on equity: +1.7%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Held by 1 of 7 live models: New Highs Growth.

New Highs Growth

4.0% of the book · ranked 22 of 589

Held Quality Growth

Outside this model's universe or screens

Momentum Top 15

ranked 28 of 499 · 12-month momentum 87.7%

Momentum Blend

Not in the current book

SURVYR. Barbell Momentum & T-Bill Shield

Outside this model's universe or screens

SURVYR. Physical AI Grid & Power

Outside this model's universe or screens

SURVYR. Long Book

Not in the current book

Why it's in the New Highs Growth #22 of 589

Qualified on Software, +0% from 52-week high, revenue +34% y/y, 12-1 momentum +87%. Ranked 22nd of 589 at the 2026-09-30 rebalance.

What would knock it out: Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it ranks 17th.

Earnings & events

PANW earningsNext report in 23 days

Next report

Thu Nov 19, 2026Time not confirmed

EPS consensus$0.97

Revenue consensus–

Last 4 quarters · EPS vs estimate

Sep 1, 2026$1.02est $0.98+4.3%Above estimates

Jun 2, 2026$0.85est $0.80+6.6%Above estimates

Feb 17, 2026$1.03est $0.94+9.9%Above estimates

Nov 19, 2025$0.93est $0.89+4.4%Above estimates

In line = within 1% of the estimate.

EstimateActual (beat)Actual (miss)

News & catalysts

More news

Can PANW Turn Frontier AI Defense Into a Key Growth Driver?

Zacks · 7h ago

What Are Cisco Investors Betting On?

Trefis · 7h ago

NWN Strengthens Palo Alto Networks Partnership with Three NextWave Advanced MSSP Specializations

Business Wire · 8h ago

Horizon3 Announces NodeZero® Integration With Palo Alto Networks Cortex XSOAR

Business Wire · 8h ago

iShares Expanded Tech-Software (IGV) Sells $9.1 Million of Palantir on Friday

GuruFocus.com · 10h ago

Insider trades

Bawa Aparna

Director · 2026-10-09

Sell
$33.4K

Bawa Aparna

Director · 2026-10-09

Sell
$69.7K

Paul Josh D.

Chief Accounting Officer · 2026-10-01

Sell
$158.3K

Bawa Aparna

Director · 2026-09-24

Sell
$102.1K

Golechha Dipak