Investopedia: For Palo Alto Networks, Valuation Is Secondary Today
With its combination of disruptive technology and a large (and growing) addressable market, valuation just isn't going to be what moves or worries investors in Palo Alto Networks (NYSE:PANW) for the next few years. Instead, it will be all about the growth rate and the company's ability to grow market share against large entrenched players such as Cisco (Nasdaq:CSCO), Check Point (Nasdaq:CHKP) and Juniper (NYSE:JNPR).
Consequently, while this stock does not look cheap today, that won't
preclude further gains so long as the growth satisfies the momentum