Announcement • Jul 22
Palo Alto Networks, Inc. (NasdaqGS:PANW) agreed to acquire Embrace Mobile, Inc. Palo Alto Networks, Inc. (NasdaqGS:PANW) agreed to acquire Embrace Mobile, Inc. on July 21, 2026.
The transaction is subject to customary closing conditions. The expected completion of the transaction is in Palo Alto Networks first quarter of fiscal 2027. New Risk • Jun 28
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₪24m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (7.9% net profit margin). Shareholders have been diluted in the past year (22% increase in shares outstanding). Significant insider selling over the past 3 months (₪24m sold). Recent Insider Transactions • Jun 14
Independent Director recently sold ₪6.1m worth of stock On the 12th of June, John Key sold around 8k shares on-market at roughly ₪815 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₪7.6m more than they sold in the last 12 months. Reported Earnings • Jun 04
Third quarter 2026 earnings released: US$0.22 loss per share (vs US$0.39 profit in 3Q 2025) Third quarter 2026 results: US$0.22 loss per share (down from US$0.39 profit in 3Q 2025). Revenue: US$3.00b (up 31% from 3Q 2025). Net loss: US$177.0m (down 168% from profit in 3Q 2025). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software industry in Asia. Announcement • Jun 03
Palo Alto Networks, Inc. Provides Earnings Guidance for the Fourth Quarter and Fiscal Year of 2026 Palo Alto Networks, Inc. provided earnings guidance for the fourth quarter and fiscal year of 2026. For the fourth quarter, the company expects total revenue in the range of $3.345 billion to $3.355 billion, representing year-over-year growth of 32%.
For the fiscal year 2026, the company expects total revenue in the range of $11.415 billion to $11.425 billion, representing year-over-year growth of 24%. New Risk • Jun 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Israeli stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • May 14
Palo Alto Networks Introduces Idira Next-Generation Identity Security Platform Palo Alto Networks unveiled Idira, the next-generation identity security platform to discover, control and govern all identities, eliminating the silos that have left the modern enterprise exposed. This launch marks a significant upgrade with expanded capabilities for existing CyberArk customers and the industry as a whole by delivering modern privilege access management (PAM) with agentic functionality. Organizations can now extend dynamic privilege controls across every human, machine and agentic identity. The rapid adoption of AI has fundamentally changed who and what has privilege inside the enterprise. Every identity – human, machine and agentic – can now operate with autonomous access to sensitive data and systems at scale. Traditional identity point solutions were built for yesterday's problems, where elevated access was reserved for a select few. As privilege becomes increasingly pervasive and agentic access remains uncontrolled, identity has become the primary attack vector, with 9 out of 10 organizations experiencing an identity-related breach in the past year. The attack surface continues to grow with machine and AI identities now outnumbering humans 109 to 1, while 61% of privileged access requests are fulfilled with standing privilege rather than on-demand, leaving the enterprise even more vulnerable to identity threats. Idira closes this gap by setting a new standard for modern PAM. By eliminating standing privileges and extending dynamic privilege controls to all users, Idira democratizes privilege access to help ensure that all identities are secured, not just managed. The platform delivers these capabilities through AI-driven visibility, dynamic controls and governance. Idira secures all identities for the AI enterprise, helping organizations discover identity risk, control every privilege, and automate governance. For existing CyberArk SaaS customers, they are able to seamlessly take advantage of the Idira next-generation capabilities. Traditional PAM (IT Standard) will automatically receive discovery and user experience improvements, with the ability to add Zero Standing Privilege (ZSP) as well as Agentic and Machine identity protections with the purchase of additional licenses. Modern PAM (IT Enterprise and Dev) can immediately take advantage of discovery, ZSP, and user experience enhancements at no additional cost, with the option to purchase Agentic and Machine identity security. Workforce Access will receive immediate user experience improvements and can upgrade to full ZSP, traditional PAM, and add Agentic and Machine protections to complete their identity security posture. Machine and AI Identity Security customers owning Secrets or Workload licenses can now easily add traditional PAM and ZSP solutions to unify their management on the Idira platform via new licenses. With Idira, Palo Alto Networks is evolving traditional identity security approaches to deliver the proactive protection modern businesses require. By providing a cohesive platform with AI-driven governance and zero standing privileges for every identity, Idira enables organizations to stop merely managing identity and start securing it. Idira is generally available, with additional capabilities coming later this year. Buy Or Sell Opportunity • May 13
Now 23% overvalued The stock has been flat over the last 90 days, currently trading at ₪638. The fair value is estimated to be ₪520, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Announcement • Apr 14
Palo Alto Networks, Inc. (NasdaqGS:PANW) completed the acquisition of Koi Security Inc. from a group of shareholders for $400 million. Palo Alto Networks, Inc. (NasdaqGS:PANW) entered into a definitive agreement to acquire Koi Security Inc. from a group of shareholders for $300 million on February 16, 2026. The total consideration includes $300 million in cash and replacement awards, subject to adjustments. The acquisition is expected to close in Palo Alto Networks’ second half of fiscal 2026, subject to the satisfaction of closing conditions, including regulatory clearance. Lauren Bellerjeau, Chere See, Tessa Schwartz, Joshua Lerner, Yuan Xia, Michael Schulman, Dave Sturgeon, Julie O’Neill, Kerry Jones, James Brower and Ruti Smithline of Morrison Foerster acted as legal advisors to Palo Alto Networks.
Palo Alto Networks, Inc. (NasdaqGS:PANW) completed the acquisition of Koi Security Inc. from a group of shareholders for $400 million on April 14, 2026. Recent Insider Transactions • Mar 30
Chairman & CEO recently bought ₪31m worth of stock On the 27th of March, Nikesh Arora bought around 68k shares on-market at roughly ₪462 per share. This transaction amounted to 6.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Nikesh's only on-market trade for the last 12 months. Announcement • Mar 23
Palo Alto Networks Launches Prisma Browser For Business Palo Alto Networks announced the launch of Prisma Browser for Business, the most secure workspace for small business. This new offering enables small business owners to easily configure and manage the apps and AI tools their business relies on, while allowing employees to work securely from any device, anywhere. Prisma Browser for Business also protects against phishing, ransomware and fraud threats and provides built-in AI controls to prevent business information from ending up in the wrong hands. Small businesses depend on an average of 36 applications running in the browser, which is where most work gets done. With 95% of companies experiencing a security incident originating in the browser, the need for a secure workspace has never been greater. Employees are rapidly adopting AI, making it harder than ever for small businesses to tame the workspace chaos, keep their business protected and prevent unintended AI actions. Prisma Browser for Business is a secure workspace designed for small business to: Streamline the workspace: Easily configure and manage the apps and AI tools teams rely on to work securely from any device, anywhere. Protect the business: Block AI-powered phishing, ransomware, and fraud threats before they harm the business. Control AI actions: Enable teams to leverage AI for productivity, while preventing business information from ending up in the wrong hands. Palo Alto Networks processes billions of threats daily for the world's largest companies. Now that same enterprise-grade protection is made available in a secure workspace designed for small businesses. Prisma Browser for Business is available in the United States. Start the 30-day free trial and in just four clicks, enable teams to work seamlessly while keeping the business protected and AI under control. Reported Earnings • Feb 24
Second quarter 2026 earnings released: EPS: US$0.61 (vs US$0.41 in 2Q 2025) Second quarter 2026 results: EPS: US$0.61 (up from US$0.41 in 2Q 2025). Revenue: US$2.59b (up 15% from 2Q 2025). Net income: US$432.0m (up 62% from 2Q 2025). Profit margin: 17% (up from 12% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software industry in Asia. 
