Palo Alto Networks Shares Plummet 48.49% Amidst Strategic IoT Security Expansion
1min read On December 16, Palo Alto Networks (PANW) experienced a sharp decline of 48.49%, reaching its lowest intraday price since May 2023. The company is set to execute a stock split on December 16, 2024, doubling the number of shares by splitting every 10 shares into 20.
In an era marked by the increasing integration of IoT within enterprises, Palo Alto Networks has seized the opportunity to address burgeoning IoT security demands through the launch of its IoT/OT security services in China. Designed to cater to the specific requirements of various industries, the services offer tailored IoT device management solutions for enterprise, industrial, and healthcare sectors. This initiative underscores the growing complexity of managing network threats as IoT applications burgeon across business, industrial, and healthcare environments.
The company's IoT security solution boasts several key features, including enhanced device visibility through machine learning, threat prevention utilizing advanced technologies such as IPS and malware analysis, and ongoing risk prioritization through vulnerability assessments. By sharing visibility of IoT and IT devices, they aim to eliminate blind spots and automate workflows across products.
Palo Alto Networks emphasizes that its IoT Security solutions can be efficiently deployed without significant investment in single-use sensors or infrastructure. This capability is achieved by enabling a subscription on their next-generation firewalls, expanding the security scope to unmanaged IoT and OT assets. This innovation not only reduces costs and time for enterprises but provides unprecedented insight and protection while maintaining existing operational processes.
Enterprises utilizing these solutions report rapid identification and classification of devices, allowing for the gathering of crucial intelligence and timely preventive measures. This has significantly enhanced their IoT security posture, reflecting the comprehensive and adaptive nature of Palo Alto Networks' response to the modern challenges posed by IoT proliferation.