Robert Way Investment Thesis Palo Alto Networks (NASDAQ:PANW) fiscal Q4 earnings results delivered top and bottom beats, with better-than-expected guidance. However, I'm not convinced of its prospects. Even though there is enough here for me to upgrade my sell rating to a hold rating, I argue that paying 29x forward free cash flow for a business that is delivering mid-teen growth rates is too high a premium, even for a hot area of the market as cybersecurity. Succinctly put, I believe there are better oppor ...