Palo Alto Networks Completes CyberArk Acquisition, Expands Identity Security

The latest announcement is out from Palo Alto Networks ( (PANW) ).

On February 11, 2026, Palo Alto Networks completed its acquisition of Israeli identity-security specialist CyberArk, making CyberArk a wholly owned subsidiary and folding its 0.00% Convertible Senior Notes due 2030 into a new structure guaranteed by Palo Alto Networks and exchangeable into Palo Alto Networks shares and cash. The company also assumed CyberArk’s capped call transactions, will maintain CyberArk’s identity-security platform as a standalone offering while integrating its capabilities into Palo Alto Networks’ broader ecosystem, and plans a secondary listing on the Tel Aviv Stock Exchange under the CYBR ticker, moves that deepen its identity-security pillar, expand its Israeli footprint and could reinforce its competitive position in securing AI-era human, machine and agentic identities.

Under the merger terms, CyberArk shareholders are entitled to receive $45 in cash plus 2.2005 Palo Alto Networks shares for each CyberArk share, while existing customers of both companies are promised continuity of service and an accelerated product roadmap as the combined group targets faster response to identity-driven breaches and the elimination of “identity silos” across hybrid cloud environments. By tying CyberArk’s privileged-access and identity-security capabilities to its established network and security-operations platforms, Palo Alto Networks is positioning itself as a more comprehensive provider of consolidated cybersecurity solutions at a time when identity-based attacks dominate breach statistics and machine identities vastly outnumber human users.

The most recent analyst rating on (PANW) stock is a Buy with a $220.00 price target. To see the full list of analyst forecasts on Palo Alto Networks stock, see the PANW Stock Forecast page.

Spark’s Take on PANW Stock

According to Spark, TipRanks’ AI Analyst, PANW is a Outperform.

Strong financial performance and upbeat earnings guidance (growth, expanding ARR/RPO, and high operating/FCF margins) support the score, but it is meaningfully tempered by weak technical momentum and a demanding valuation (high P/E with no dividend support).

To see Spark’s full report on PANW stock, click here.

More about Palo Alto Networks

Palo Alto Networks, listed on the Nasdaq as PANW, is a global AI cybersecurity leader offering a broad portfolio of security solutions across network, cloud, security operations, AI and identity protection. Trusted by more than 70,000 customers worldwide and supported by its Unit 42 threat intelligence arm, the company focuses on simplifying cyber defenses so enterprises can modernize and innovate securely.

Average Trading Volume: 6,702,010

Technical Sentiment Signal: Sell

Current Market Cap: $111B

See more insights into PANW stock on TipRanks’ Stock Analysis page.