Palo Alto Networks' market capitalization has climbed to nearly $295 billion, up more than 150% from about $113 billion a year ago, leaving shares within 4% of their 52-week high. The cybersecurity company's fiscal third-quarter revenue rose 31% year over year to $3.0 billion, though $388 million came from newly acquired CyberArk and Chronosphere, and next-generation security annual recurring revenue reached $8.1 billion, up 60% year over year. Adjusted earnings per share grew 6% to $0.85, while the company swung to a GAAP net loss of $177 million. The stock now trades at roughly 96 times the midpoint of management's fiscal 2026 adjusted earnings-per-share guidance of $3.77 to $3.79, reflecting high expectations for AI-security demand and successful integration of the CyberArk deal.
