Palo Alto Networks becomes TASE's most valued company

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Palo Alto Networks, the U.S. cybersecurity leader founded by Israeli entrepreneur Nir Zuk, announced it will add a secondary listing on the Tel Aviv Stock Exchange (TASE). The move is tied to Palo Alto's recent $21.5 billion acquisition of Israeli identity-security platform CyberArk. With a market capitalization of roughly $115 billion, Palo Alto will become the largest company by market cap ever listed on TASE, outranking major Israeli firms like Teva Pharmaceuticals and Bank Hapoalim.

Why it matters

The dual listing lowers the barrier for local Israeli institutional and retail investors to own a piece of the $115 billion cybersecurity giant, which is expected to drive more capital toward Israel's thriving AI-security startup ecosystem. The acquisition of CyberArk also signals that identity security will develop into a core pillar of any comprehensive cyber-defense strategy as AI agents proliferate.

The details

Instead of its Nasdaq symbol PANW, Palo Alto will trade under the ticker CYBR on TASE - a clear tribute to CyberArk's brand. The company said the dual listing 'builds on CyberArk's heritage and Israel's position as a global cybersecurity powerhouse.' The acquisition gives Palo Alto a deeper foothold in Israel's R&D ecosystem, allowing the combined entity to better protect hybrid-cloud environments from AI-powered threats by merging Palo Alto's network-security expertise with CyberArk's privileged-access management.

• Palo Alto Networks announced the dual listing on February 15, 2026.

What they’re saying

What’s next

Investors should monitor how Palo Alto Networks integrates CyberArk's technology into its product roadmap, especially around privileged-access management for autonomous agents.