Air Lease delivers jet leasing and fleet management to airlines globally, with revenue driven by long-term contracts and aircraft sales.What happenedAccording to an SEC filing dated Feb. 5, 2026, Alpine Associates Management Inc. bought 1,070,853 additional shares of Air Lease (AL 0.05%)in the fourth quarter, bringing its total stake to 1,118,656 shares as of Dec. 31, 2025. The estimated value of the trade is $68.37 million, calculated using the average closing price for the fourth quarter. The quarter-end ...

Palo Alto Networks Announces Offer to Purchase Relating to CyberArk Software Ltd.'s 0.00% Convertible Senior Notes due 2030 [Accessibility Statement] Skip NavigationSANTA CLARA, Calif., Feb. 19, 2026 /PRNewswire/ -- Today, Palo Alto Networks, Inc. (NASDAQ: PANW) ("Palo Alto Networks") announced that, in connection with the closing of the transaction (the "Acquisition") contemplated by the Agreement and Plan of Merger, dated as of July 30, 2025, by and among Palo Alto Networks, CyberArk Software Ltd., a comp ...

Core Insights - Palo Alto Networks reported fiscal second-quarter results that exceeded Wall Street estimates, but shares fell 6% due to disappointing guidance for the upcoming quarter [1] - The company forecasted earnings for the fiscal third quarter between 78 cents and 80 cents, below the LSEG estimate of 92 cents [1] - Revenue is projected to be between $2.94 billion and $2.95 billion, surpassing the $2.60 billion estimate [1] Financial Performance - Revenue grew 15% year-over-year, reaching $2.59 billion compared to $2.3 billion a year ago [2] - Net income increased to $432 million, or 61 cents per share, up from $267 million, or 38 cents per share a year ago [2] - Earnings per share were reported at $1.03, excluding items, compared to the expected 94 cents [5] Strategic Acquisitions - The company is actively acquiring firms to enhance its cybersecurity capabilities, with over 20 acquisitions since CEO Nikesh Arora took over in 2018 [3] - Recently, Palo Alto completed its largest acquisition, paying $25 billion for CyberArk, and also acquired Chronosphere for over $3 billion [3] Market Trends and Performance Metrics - The company noted a trend towards platformization driven by AI, with customers looking to modernize their cybersecurity stacks [4] - Remaining performance obligations reached $16 billion, exceeding the StreetAccount estimate of $15.78 billion [4] - Annual recurring revenue rose 33% to $6.33 billion [4] - Palo Alto shares have declined 11% year-to-date [4]

Core Viewpoint - Barclays believes that the current market panic regarding generative AI (GenAI) is based on a "worst-case scenario" assumption, predicting the extinction of traditional software companies, which mirrors the panic seen a decade ago with the rise of Amazon AWS [1][2] Historical Context - The current investor sentiment in the software sector is extremely negative, with a simplistic investment logic of buying AI newcomers and shorting traditional software [2] - This situation is reminiscent of the panic surrounding AWS's growth, where established software companies faced similar doomsday predictions, yet none went bankrupt due to AWS competition [4][5] Market Dynamics - Historical data shows that while AWS gained significant market share, it did not lead to the extinction of mature software companies; instead, these companies evolved and thrived [4][5] - The market's current indiscriminate sell-off of software stocks, with the IGV (software ETF) down approximately 24% year-to-date, is viewed as irrational [6] Mispricing Opportunities - Barclays identifies significant mispricing opportunities in the current market, particularly for companies with strong core record systems and specific domain moats that are being undervalued [1][6] - The panic selling creates an opportunity for investors to identify industry leaders that have been unfairly punished [7] Defensive Sectors - Two defensive sectors highlighted are: 1. Owners of record systems, such as Salesforce and SAP, which hold core enterprise data and are difficult to replace [9] 2. Vertical SaaS companies, like Veeva Systems and Tyler Technologies, which possess deep domain-specific data moats [9] Company Performance - Notable company performances include: - CyberArk's market cap surged from $885 million to $22.516 billion, a 2443% increase [8] - Microsoft and Google also saw significant market cap growth, with increases of 1048% and 871%, respectively [8] - Traditional companies like Teradata experienced a 73% decline, while others like Tableau and Splunk were acquired at high premiums [8]

Core Insights - Palo Alto Networks (PANW) experienced a 4.8% increase in stock price this week, closing at $166.95, despite being down 9.36% year-to-date and 17.3% from the previous year [1] - The company completed a significant $25 billion acquisition of CyberArk, enhancing its identity security capabilities and aligning with its platformization strategy [1] - Upcoming earnings report on February 17 is anticipated to reset market expectations, with analysts projecting $0.94 EPS and $2.58 billion in revenue, indicating year-over-year growth [1] Stock Performance - PANW outperformed the broader market and cybersecurity peers, with the S&P 500 dropping 1.29% while the ETFMG Prime Cyber Security ETF gained 3.51% [1] - The stock opened at $165.03, reached an intraday high of $170.49, and closed at $166.95, which is significantly below the average analyst price target of $222.97, suggesting a potential upside of approximately 33% [1] Acquisition Details - The CyberArk acquisition, valued at $25 billion, is the second-largest acquisition of an Israeli company, with CyberArk shareholders receiving $45 in cash plus 2.2005 PANW shares per share [1] - This acquisition is part of PANW's strategy to consolidate various security solutions into unified platforms, positioning identity security as a central focus [1] - The previous acquisition of Chronosphere for $3.35 billion in January 2026 further indicates PANW's aggressive expansion into adjacent security markets [1] Earnings Expectations - Analysts expect PANW to report Q2 fiscal 2026 earnings with $0.94 EPS and $2.58 billion in revenue, reflecting 16% EPS growth and 14.15% revenue growth year-over-year [1] - Mixed analyst sentiment exists, with Jefferies maintaining a $250 price target while Stifel and JPMorgan have lowered their targets due to concerns about organic growth and reseller feedback [1] - The consensus rating includes 12 Strong Buy, 30 Buy, 11 Hold, and 2 Sell, indicating overall confidence but also uncertainty regarding growth sustainability amid integration of acquisitions [1] Industry Context - PANW is focusing on AI-driven security solutions, positioning itself against competitors like Fortinet and Zscaler, which are also investing heavily in AI security [1] - Gartner predicts that by 2028, 50% of organizations will adopt zero-trust data governance due to risks associated with AI-generated data, which aligns with PANW's strategic direction [1] - The cybersecurity sector is expected to see increased investment as security incidents rise, potentially benefiting companies like PANW [1]

Group 1 - CyberArk Software Ltd. (NASDAQ:CYBR) is recognized as a high growth international stock, with recent price target increases from DA Davidson and Jefferies maintaining a Buy rating [1][2] - The company reported record fiscal Q4 2025 results, achieving $372.65 million in revenue, which is an 18.53% year-over-year increase and $9.71 million above consensus estimates [2] - Earnings per share (EPS) for the quarter was $1.33, exceeding market expectations by $0.18, attributed to broad-based strength across its business [2][4] Group 2 - CyberArk achieved a record net new Annual Recurring Revenue (ARR) of $99 million, reflecting a 20% year-over-year increase, indicating strong customer prioritization of identity security [4] - The company's focus is on providing identity security solutions, particularly in privileged access management (PAM), to protect organizations from cyberattacks targeting high-privilege accounts [4]

Palo Alto Networks has finalised its previously announced $25bn worth acquisition of CyberArk, a move intended to incorporate identity security into its core platform strategy. The transaction, originally announced in July 2025, entitles CyberArk shareholders to receive $45 in cash and 2.2005 shares of Palo Alto Networks common stock for each CyberArk ordinary share. CyberArk was listed on Nasdaq prior to the closing of the deal. With this deal, Palo Alto Networks aims to address the increasing need for ...

Core Viewpoint - The Tel Aviv Stock Exchange (TASE) has successfully attracted Palo Alto Networks, the largest cybersecurity company globally, to dual-list on the TASE, marking a significant shift in the exchange's appeal to major tech firms [1][3]. Company Overview - Palo Alto Networks is currently traded on Nasdaq with a market capitalization of $115 billion and has extensive operations in Israel, being founded by Israeli entrepreneur Nir Zuk [2]. - The acquisition of CyberArk, valued at approximately $21 billion, will primarily be conducted through shares, which is expected to increase Palo Alto's market cap further [3]. Market Impact - Upon its listing, Palo Alto will have a valuation exceeding NIS 350 billion, making it the largest company on the TASE, significantly surpassing the current largest company, Teva Pharmaceuticals, which has a market cap of about NIS 125 billion [3][4]. - The TASE's market cap increased by 10% following the announcement, reflecting a substantial rise of over eightfold in the last three years, with the current market cap at NIS 13 billion [8]. Industry Significance - Palo Alto's dual-listing is expected to enhance liquidity and attract international interest in the Israeli market, reinforcing Israel's status as a global cybersecurity hub [6]. - The move may encourage other Israeli or Israel-connected companies listed only on Wall Street to consider dual-listing on the TASE, potentially increasing their visibility and demand [10]. Employment and Operations - CyberArk, which was acquired by Palo Alto, had nearly 4,000 employees, including about 1,000 in Israel, while Palo Alto had over 16,000 employees, with nearly 1,500 in Israel [12][13]. - The acquisition is noted as the second largest in the Israeli cybersecurity sector, following Google's acquisition of Wiz for $32 billion [12].

Core Insights - JPMorgan identifies CrowdStrike, Palo Alto Networks, and Zscaler as long-term winners in the cybersecurity sector amid AI-driven threats [1] - The recent sell-off in SaaS stocks, triggered by Anthropic's AI tool updates, resulted in nearly $1 trillion loss in market value over six days, but the panic has since eased [1] CrowdStrike (CRWD) - CrowdStrike's Falcon platform is recognized for its AI-native capabilities and resilience against broader software sector fears, with $1.35 billion in annual recurring revenue reported [1] - Analysts project fiscal 2026 revenues between $4.797 billion and $4.807 billion, with non-GAAP earnings expected at $3.70 to $3.72 per share, reflecting a 1.1% increase in earnings estimates [1] - Expected earnings growth of 16.8% in 2026 is supported by high switching costs and multi-year contracts [1] Palo Alto Networks (PANW) - Palo Alto Networks reported a 16% year-over-year revenue growth to $2.47 billion in fiscal Q1, with product revenue increasing by 23% to $343 million [1] - The company’s next-generation security annual recurring revenue surged 29% to $5.85 billion, driven by a 34% growth in SASE [1] - JPMorgan has set a price target of $235 per share, highlighting the company's strong profitability and market position [1] Zscaler (ZS) - Zscaler's emerging products in AI security and zero trust exceeded $1 billion in combined annual recurring revenue, with revenues beating guidance by $15 million [1] - The company forecasts fiscal 2026 annual recurring revenue between $3.698 billion and $3.718 billion, with total revenues expected between $3.282 billion and $3.301 billion [1] - Zscaler is positioned to capitalize on a $780 billion cloud market by 2030, leveraging AI for threat detection [1]

We came across a bullish thesis on Palo Alto Networks, Inc. on LongYield’s Substack. In this article, we will summarize the bulls’ thesis on PANW. Palo Alto Networks, Inc.'s share was trading at $176.20 as of January 29th. PANW’s trailing and forward P/E were 111.52 and 45.66 respectively according to Yahoo Finance. Why Needham Backed Allot in November After a Decade-High Profit Quarter Den Rise/Shutterstock.com Palo Alto Networks (PANW) has evolved from a next-generation firewall vendor into a leading ...