Guggenheim analyst Imtiaz Koujalgi sees the key highlight of Palo Alto Networks' earnings report and analyst day as the company having provided revenue, billings, and margin guidance for the three years of FY20-FY22. Investors have been concerned about margins and cash flows for FY20 and beyond and the company's guidance should put those free cash flow fears "to rest," Koujalgi tells investors. Additionally, the company's Cloud and next-gen security business was strong in the quarter and is expected to drive growth going forward, noted Koujalgi, who keeps a Buy rating and $280 price target on Palo Alto shares.