Core Insights - Palo Alto Networks is a leading cybersecurity company known for its innovative security solutions, including firewalls, cloud security, and threat intelligence [1] - The company is set to release its quarterly earnings on November 19, 2025, with Wall Street analysts estimating an EPS of $0.89 and revenue of $2.46 billion [2][6] - The stock price has recently declined from a high of $223 in October to $205, raising investor interest in the upcoming financial results [2] Financial Performance - In the previous quarter, Palo Alto Networks reported $2.5 billion in revenue, reflecting a 16% year-over-year increase, driven by a shift from hardware to subscription and service-based offerings [3][6] - The company's backlog grew to $15.8 billion, and annual recurring revenue for next-generation security surged by 32% to $5.6 billion [3] Market Dynamics - Investors are particularly focused on the progress in subscription and recurring revenue offerings in the upcoming earnings report [4] - Commentary on competitive pressures, especially in identity security and secure access service edge (SASE), will be of interest due to increasing competition from rivals [4] Institutional Investor Activity - Institutional investors have been adjusting their positions in Palo Alto Networks, with Banco Bilbao Vizcaya Argentaria S.A. reducing its holdings by 0.5% [5] - Connor Clark and Lunn Investment Management Ltd. acquired a new stake valued at $261,000, while Strive Asset Management LLC increased its stake by 16.6%, now holding shares valued at $358,000 [5][6]