Investors should focus on customer growth, customer spending, and the commentary on sales cycles. It's important to assess whether sales cycles are lengthening and if customer deals are being pushed out. Additionally, margin profiles are crucial, as companies are now prioritizing profitability and cash flow over just growth.

Palo Alto Networks has transformed itself from a firewall-focused company to a comprehensive cybersecurity provider. They offer a full suite of security products, which allows them to cater to large enterprises effectively. Their recent focus on real-time cybersecurity and platformitization aims to enhance customer experience and retention, ensuring they meet evolving security needs.

Investors should look for growth in recurring revenue, billings growth, and customer retention metrics such as dollar-based net retention. Additionally, monitoring research and development spending can indicate whether the company is keeping its platform up-to-date and expanding its offerings effectively.