Shares of Palo Alto Networks, the international cybersecurity company, hit an all-time high Thursday and pushed the company’s market value above 1 trillion shekels, rising more than 4%.
The milestone made Palo Alto Networks the first company in the history of the Tel Aviv Stock Exchange to trade at such a valuation. Its current market value now accounts for roughly one-third of the combined value of all shares traded on the exchange.
Palo Alto Networks headquarters in California; one of the world’s leading cybersecurity companies
(Photo: Michael Vi / Shutterstock)
The gap between Palo Alto and the companies behind it is dramatic. Its valuation is about 10 times that of Teva Pharmaceutical Industries, which ranks second at 143 billion shekels. Bank Leumi is third, with a market value of 110 billion shekels.
Palo Alto Networks, co-founded by Israeli high-tech entrepreneur Nir Zuk, joined the Tel Aviv Stock Exchange in February 2026 as a dual-listed company that also trades on Nasdaq.
From its first day of trading in Tel Aviv, it ranked as the exchange’s most valuable stock, overtaking major local companies such as Teva, which for years held the top spot in the TA-35 index, at times alternating with Elbit Systems and the major banks.
Since the beginning of the year, Palo Alto’s market value has jumped 115.6%, driven in part by its $25 billion acquisition of Israeli cybersecurity company CyberArk, the second-largest deal in Israel’s high-tech industry.
Palo Alto Networks is one of the world’s leading cybersecurity companies. Zuk founded it in 2005, and it gained prominence by bringing a broad range of cybersecurity solutions under one roof, reducing the need for customers to rely on multiple products from different vendors.
In 2007, the company made its mark with the launch of a next-generation firewall, becoming a direct competitor to Israel’s Check Point Software Technologies. It went public on Nasdaq in 2012 at a valuation of $2.8 billion.
Although Palo Alto Networks is a U.S. company incorporated in California, its research and development center operates in Tel Aviv. Over the years, it has acquired more than 10 prominent Israeli startups.
Meanwhile, shares of El Al and Israir continued to climb Thursday after surging nearly 10% a day earlier amid the fallout from the Flydubai flight incident involving Israel. El Al shares were up nearly 3.5%, while Israir was gaining 2.5%.
First published: 17:21, 10.01.26