With a market cap of $104.1 billion, California-based Palo Alto Networks, Inc. (PANW) provides cybersecurity solutions worldwide, including next-generation firewalls that provide deep visibility and control over applications, users, and content. The company’s products protect against various threats while simplifying IT security infrastructure and reducing costs.
Shares of this cybersecurity giant have outperformed the broader market over the past 52 weeks. PANW stock has soared 57.4% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 28.9%. However, in 2024, PANW’s shares are up 9.1%, compared to SPX's 11.2% gains on a YTD basis.
