Palo Alto Networks (PANW)
Integrated cybersecurity platforms spanning networks, cloud, security operations, AI, observability, and identity.
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Sells integrated platforms for network security, cloud and security operations, AI security, observability, and identity security, alongside threat intelligence and incident-response services. Subscriptions and support generate most revenue; firewall hardware and software licenses add product sales, and substantially all revenue flows through channel partners.
Protects enterprise networks, cloud applications, endpoints, identities, and cloud infrastructure through an expanding set of integrated cybersecurity platforms. Network Security combines next-generation firewalls, SASE, and cloud-delivered services; Cortex joins security operations with Cortex Cloud; Prisma AIRS secures AI applications and models; Chronosphere provides observability; and Idira adds privileged-access, workforce, machine-identity, and identity-governance controls. Unit 42 supplies threat intelligence, incident response, and risk consulting.
Packages these functions to help enterprises, service providers, and government entities consolidate standalone security tools. The Americas generate most revenue, with customers across Europe, the Middle East, Africa, and Asia-Pacific. Subscriptions and support produce the large majority of revenue, supplemented by firewall hardware and software licenses. Growth depends on integrating acquired platforms and operating reliable cloud services. Substantially all sales pass through distributors and resellers.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 20, 2026 | Morgan Stanley | Target | Target: $394 | Target: $410 |
| Sep 17, 2026 | Bernstein | Downgrade | Target: $253 | Target: $351 |
| Sep 7, 2026 | Citigroup | Downgrade | ||
| Sep 2, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $330 | Target: $390 |
| Sep 2, 2026 | Truist Financial | Target | Target: $435 | Target: $400 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 31, 2026Cash & short-term investments $3.07B · Total debt $2.50B · Total assets $48.46B · Shareholders' equity $27.49B
- Revenue
- $3.41B
- Operating income
- $169.0M
- Net income
- −$282.0M
No dividends on record.
| Institutions | 82.71% | 674.95M shares | |
|---|---|---|---|
| 3,047 holders · as of Jun 30, 2026 | |||
| Insiders | 0.22% | 1.78M shares | |
| 15 holders · as of Sep 16, 2026 | |||
| Other | 17.07% | 139.27M shares | |
| remainder | |||
816.00M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.28% | 75.75M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.51% | 53.13M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.53% | 36.98M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 3.61% | 29.45M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 3.14% | 25.65M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 17, 2026 | James J. Goetz | director | −20,000 | $376.68 |
| Sep 15, 2026 | Aparna Bawa | director | −500 | $377.18 |
| Sep 14, 2026 | Aparna Bawa | director | −1,000 | $373.61 |
| Sep 14, 2026 | John P. Key | director | −2,500 | $376.03 |
| Sep 1, 2026 | Josh D. Paul | officer: Chief Accounting Officer | −900 | $373.68 |
- CrowdStrike
AI-native SOC platform rivaling Cortex XDR, XSIAM, and Prisma Cloud.
- Fortinet
NGFW market leader expanding SASE and SecOps against all PANW pillars.
- Cisco Systems
Networking giant contesting PANW via Splunk, Secure Firewall, and SASE.
- Zscaler
Pure-cloud SASE/SSE leader in direct contest with Prisma SASE.
- Microsoft
E5 bundle competes across every PANW pillar at near-zero marginal cost.
- Check Point Software Technologies
Founding-era NGFW rival; Infinity Platform across 100,000+ customers.
- SentinelOne
Autonomous AI endpoint platform in direct XDR and AI SOC contest with Cortex.
- Okta
Leading IAM platform contesting the identity pillar built on CyberArk.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Palo Alto Networks | $368.26 | −0.94% | $302.98B | 844.9 | 88.0 | 26.4 | +34.5% |
| CrowdStrike | $248.03 | −0.53% | $253.90B | 7,104.0 | 176.0 | 47.1 | +25.8% |
| Fortinet | $171.48 | −2.14% | $128.57B | 61.7 | 48.7 | 17.1 | +25.6% |
| Cisco Systems | $107.07 | −3.94% | $439.31B | 33.5 | 20.9 | 6.9 | +17.6% |
| Zscaler | $206.01 | −0.54% | $33.49B | — | 42.3 | 10.0 | +24.9% |
| Microsoft | $497.78 | −0.76% | $3.72T | 27.9 | 25.4 | 11.2 | +17.8% |
| Check Point Software Technologies | $131.86 | −1.78% | $13.71B | 13.7 | 12.2 | 5.0 | +1.3% |
| SentinelOne | $23.61 | −0.82% | $8.01B | — | 59.5 | 7.3 | +20.6% |
| Okta | $189.92 | −0.74% | $31.78B | 115.3 | 46.6 | 10.3 | +10.6% |
| Median | 47.6 | 44.4 | 10.2 | +19.2% |