NEW YORK, Feb 13, 2026, 14:04 ET — Regular session
- Palo Alto Networks clawed back some ground, up roughly 2.4% in afternoon trade after slipping the previous session.
- This week, the cybersecurity company finalized its $25 billion acquisition of Israel’s CyberArk and announced plans for a secondary listing in Tel Aviv. (Reuters)
- Eyes are already shifting to next week’s quarterly report, where investors are hoping for some first clues on integration costs and what demand might look like in the short run. (Paloaltonetworks)
Palo Alto Networks jumped 2.4% to finish at $166.65 on Friday, clawing back some losses from a volatile stretch for cybersecurity stocks. Shares swung between $162.04 and $170.36 during the session.
Just days after wrapping up its $25 billion buyout of CyberArk, Palo Alto is moving ahead with a dual listing on the Tel Aviv Stock Exchange—unusual for a Nasdaq giant. Speaking to Reuters, the company said the move will make it simpler for Israeli investors to trade its shares and strengthen its position in Israel’s tech industry. (Reuters)
Here’s the thing: this deal has real heft—it could reshape Palo Alto’s business, and the upcoming earnings report lands right in the crosshairs for investors gauging potential gains against the complications: higher costs, operational overlap, and execution risk. Shares wrapped up Thursday at $162.81, having dropped as low as $157.81 earlier in the day as trading volume spiked. (Paloaltonetworks)
Palo Alto is pitching the acquisition as a move to put identity security at the center of its business, folding in CyberArk’s privileged access tools—designed to restrict entry to the most sensitive networks. “The end of ‘identity silos’,” is how CEO Nikesh Arora summed up the deal. CyberArk’s Matt Cohen described the merged companies as “the definitive cyber guardian for the modern enterprise.” Palo Alto plans to release its fiscal second-quarter numbers on Feb. 17, with a webcast set for 1:30 p.m. PT. (Paloaltonetworks)
Palo Alto hasn’t specified when it will begin trading in Tel Aviv, though it plans to use the ticker “CYBR” there and keep “PANW” on Nasdaq. According to Reuters, the move would put Palo Alto at the top of the TASE by market cap. (Reuters)
Friday saw a stronger overall market, the S&P 500 tracker SPY adding 0.6%, while the tech-focused QQQ advanced 0.9%. Cybersecurity stocks logged wins too: CrowdStrike climbed 4.7%, Zscaler gained 4.2%, Fortinet moved up 2.1%, and Check Point rallied 6.5%.
Another layer for investors to digest: the deal’s mechanics. CyberArk’s 0.00% convertible senior notes due 2030 showed up in a Feb. 11 securities filing, along with paperwork covering a capped call transaction. The notes, convertible under specific terms, can impact dilution and feed into hedging flows. (SEC)
Traders are watching to see if Palo Alto can quickly leverage CyberArk’s identity tools by tying them into its larger platform—without tripping up deal flow. Identity security now stands as its own budget line, but even so, customers may still hesitate if CIOs put the brakes on spending.
The risks here aren’t hard to spot. If integration trips up or acquired teams start to leave, and demand loses steam, billings and margins could both take a hit—right as Palo Alto is trying to show it can manage a deal of this scale.
Palo Alto’s set to report results on Feb. 17. The company faces questions about the CyberArk integration, timing for its Tel Aviv listing, and whether growth is sticking as security buyers look harder at renewals and new projects.
