Palo Alto debuts on Israeli stock exchange

Palo Alto Networks debuted on the Tel Aviv Stock Exchange today, marking its first trading day in Israel.

The cybersecurity firm, founded by Nir Zuk, is now listed under the symbol “CYBR.”

The move comes amid a challenging period for the company, which ended last week with a market cap of around US$121 billion, its lowest since May 2024, and a stock decline of over 17% this year.

Despite reporting second-quarter revenue of US$2.6 billion—up 15% year-on-year—and exceeding earnings expectations, Palo Alto lowered its full-year guidance.

It now expects revenue of US$11.3 billion and earnings per share of US$3.65–US$3.70, below market estimates, partly due to the recent US$25 billion acquisition of CyberArk.

The deal increased the company’s employee count by about 4,000.

The revenue outlook is affected by different accounting methods for recurring revenue, while earnings per share face dilution from stock financing.

🔗 Source: Calcalist

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Dual listing ties Palo Alto Networks to Israel and day-to-day operations

Palo Alto Networks chose Tel Aviv because of its operational footprint, since 12 of its last 24 acquisitions were Israeli companies 1.
The listing comes after the US$25 billion acquisition of Israeli cybersecurity company CyberArk, and Palo Alto Networks called the planned “CYBR” ticker on the Tel Aviv Stock Exchange (TASE) a “world-class tribute” to the CyberArk brand 2.
The deal weighs on near-term earnings, yet the company framed it as a move to close a security gap as identity becomes a common attack route when machine identities outnumber human ones by more than 80-to-1 2.

One new listing could shift the Tel Aviv Stock Exchange and its indices

Palo Alto Networks would land on the Tel Aviv Stock Exchange (TASE) with a roughly US$121 billion market cap, about three times the size of the current biggest company, Teva Pharmaceutical Industries Ltd. 3.
The dual listing may alter benchmarks such as the Tel Aviv 35 and Tel Aviv 125, with some analysts expecting daily turnover to rise by about 15% 4.
The company trimmed full-year guidance to US$11.3 billion in revenue and US$3.65 to US$3.70 in earnings per share, which it tied to building a wider AI-driven security platform while it takes in large acquisitions including CyberArk 5.