Blockonomi

TLDR

Palo Alto Networks (PANW) shares fell 6% in pre-market trading Wednesday after cutting its 2026 adjusted EPS forecast to $3.65–$3.70, down from $3.80–$3.90.

The profit cut is driven by integration costs from recent acquisitions, including the $25 billion CyberArk deal and the $3.35 billion Chronosphere acquisition.

Revenue guidance was raised to $11.28–$11.31 billion, up from $10.50–$10.54 billion.

TD Cowen maintained a Buy rating and $255 price target, representing 56% upside from ~$163.50.

Q2 results beat expectations, with next-gen security ARR up 33% and remaining performance obligations up 23%.

Palo Alto Networks (PANW) shares dropped 6% in pre-market trading Wednesday after the company trimmed its annual profit outlook, blaming rising integration costs tied to a string of recent acquisitions.

$PANW (Palo Alto Networks) #earnings are out: pic.twitter.com/UIJpNMwjSD

— The Earnings Correspondent (@earnings_guy) February 17, 2026

The cybersecurity firm cut its 2026 adjusted earnings per share forecast to a range of $3.65–$3.70, down from its prior guidance of $3.80–$3.90. The stock had already slipped 7% in after-hours trading the night before.

Despite the profit cut, Palo Alto raised its annual revenue forecast to $11.28–$11.31 billion, well above its earlier estimate of $10.50–$10.54 billion.

The main culprit behind the margin pressure is acquisition activity. Palo Alto spent $2.3 billion on CyberArk in Q3 alone, completing that deal earlier in February. It also agreed to acquire cloud monitoring firm Chronosphere for $3.35 billion, and picked up Israeli cybersecurity startup Koi.

The company has been building itself into a one-stop platform for enterprise security, leaning into AI-driven threat detection as customers increasingly look to consolidate vendors.

Acquisitions Weigh on Margins

Morningstar analyst Malik Ahmed Khan acknowledged the hit to profitability but pointed to the upside. “The profitability ‘cut’ is mostly due to the firm’s acquisitions and we see the firm being able to leverage these acquisitions by cross-selling its existing customer base,” he said.

TD Cowen reiterated its Buy rating and $255 price target after the results — that target represents a 56% upside from the current price of around $163.50. The firm noted that demand remained healthy and that AI is continuing to drive business growth.

TD Cowen also said the CyberArk and Chronosphere deals reinforce Palo Alto’s platform strategy, making identity security a central pillar and improving real-time visibility across applications, infrastructure, and AI systems.

Both acquisitions are included in the company’s adjusted free cash flow margin targets of 37% for fiscal years 2026 and 2027, and 40% for fiscal year 2028.

Q2 Results Beat Expectations

The underlying quarterly numbers were solid. Palo Alto reported 33% growth in next-generation security annual recurring revenue and 23% growth in remaining performance obligations for Q2 fiscal 2026.

The company generated $3.69 billion in levered free cash flow over the last twelve months, with a free cash flow yield of 3%, according to InvestingPro data.

Palo Alto also reaffirmed its free cash flow targets for the year, and InvestingPro noted its cash flows are sufficient to cover interest payments.

Analyst reactions were mixed but mostly constructive. Truist Securities kept its Buy rating with a $200 price target. Piper Sandler held its Overweight rating with a $265 target. BMO Capital maintained an Outperform rating, also at $200, and projected 13–15% organic growth in next-gen security revenue over the next two quarters.

Needham lowered its target to $200 from $230, citing acquisition costs. Scotiabank cut its target to $180 from $228, maintaining a Sector Outperform but flagging complexity and a lack of organic upward momentum.

Analyst consensus currently sits at 1.71, reflecting a Strong Buy.

The post Palo Alto Networks (PANW) Stock Falls After Profit Forecast Cut Despite Strong Growth appeared first on Blockonomi.

TLDR

Freedom Capital Markets downgraded Fortinet (FTNT) from Buy to Hold on Monday, citing valuation concerns

Price target held at $90 despite the rating cut

Fortinet posted a strong Q4 with 20% product revenue growth and 18% billings growth

30 analysts have revised earnings estimates downward for the upcoming period

Risks include rising memory prices, currency volatility, and growing competition

Fortinet (FTNT) was downgraded to Hold from Buy by Freedom Capital Markets on Monday. Analyst Almas Almaganbetov kept the price target at $90 but flagged valuation as the key concern. The stock currently trades at a P/E ratio of 33.65.

The move came just after Fortinet posted a strong Q4 2025. Product revenue grew 20% and billings rose 18% year-over-year, well ahead of the 12% consensus estimate. A large-scale network equipment refresh cycle helped drive those numbers.

The service segment held steady too, with Unified SASE cloud solutions expanding and recent acquisitions integrating well. Gross profit margins came in at 80.46%. Some customer caution around contract durations was flagged, but it didn’t overshadow the overall result.

Other Analysts Still Bullish

Not everyone is pulling back. Several firms raised their price targets after Q4 results.

TD Cowen kept its Buy rating with a $100 target. BMO Capital raised its target to $95, though it noted service revenue growth missed projections. RBC Capital lifted its target to $90, calling the quarter a solid base for 2026.

UBS also moved to $90, pointing to strong product growth and improved Enterprise License Agreement renewals. Jefferies matched that $90 target, citing the 18% billings growth that came in well above expectations.

Risks Ahead

Despite the strong quarter, headwinds are building. Rising memory prices and currency swings could pressure margins going forward. Competitive pressure in the cybersecurity space is also increasing.

InvestingPro data shows 30 analysts have revised earnings estimates downward for the upcoming period — a trend worth watching.

Freedom Capital’s downgrade is a straight valuation call. The business is performing well. The stock price may have simply run ahead of where the fundamentals can justify it right now.

Fortinet shares were down 4.52% at the time of the downgrade.

The post Fortinet (FTNT) Stock Slides as Analyst Downgrades on Valuation Concerns appeared first on Blockonomi.

TLDR

Peter Thiel’s Founders Fund fully exited its stake in ETHZilla (ETHZ) by end of 2025, per a recent SEC filing.

ETHZ shares fell 3% in extended trading and are down 28% year-to-date.

Ethereum dropped 28.4% in Q4 2025 and has continued falling in 2026, now trading around $2,017.

ETHZilla sold roughly $114.5 million in ETH across two rounds to cover buybacks and debt repayment, cutting holdings from 100,000+ ETH to 69,802 ETH.

The company has pivoted again, launching ETHZilla Aerospace to offer tokenized exposure to leased jet engine revenue.

Peter Thiel’s Founders Fund has fully exited its position in ETHZilla (ETHZ), according to a recent SEC filing. The exit was complete by the end of 2025.

ETHZ shares dropped 3% in extended trading following the news. The stock is already down 28% so far this year.

Thiel, co-founder of PayPal and Palantir, had previously controlled a 7.5% stake in ETHZilla through entities including The Founders Fund, according to a BeInCrypto report from August 2025. The latest SEC filing shows zero ownership by those entities at year-end.

The exit has drawn attention in crypto circles. “This matters because Thiel is considered smart institutional capital, and a full exit from an ETH treasury firm could signal shifting sentiment, risk reduction, or a strategic rotation away from Ethereum exposure,” Crypto Town Hall posted.

ETHZilla is one of several companies that adopted the crypto treasury playbook pioneered by Strategy (formerly MicroStrategy) in 2020, accumulating Ethereum as a reserve asset.

The timing of Thiel’s exit lines up with a rough stretch for Ethereum. The token fell 28.4% in Q4 2025 — its first negative fourth quarter since 2022. It then closed January 2026 down 17.7% and has dropped another 18.1% so far in February. ETH was trading at around $2,017 at time of writing.

ETHZilla Cuts ETH Holdings as Losses Mount

That sustained price weakness has hit ETHZilla hard. At its peak, the company held more than 100,000 ETH. As conditions worsened in October, the company sold roughly $40 million in Ether, using the proceeds for share buybacks.

A second round of sales followed in December — about $74.5 million worth — with funds directed toward repaying senior secured convertible debt. ETHZilla now holds 69,802 ETH, according to CoinGecko data.

The broader sector is under similar pressure. BitMine, another crypto treasury firm, is sitting on unrealized losses exceeding $7 billion and is down 25.7% year-to-date.

A New Direction: Tokenized Jet Engines

ETHZilla, which previously operated as 180 Life Sciences before its Ethereum pivot and rebrand, has now outlined another strategic shift.

Its wholly owned subsidiary, ETHZilla Aerospace, recently launched the Eurus Aero Token I. The product offers investors tokenized exposure to revenue rights from leased aircraft engines via tradable digital tokens.

ETHZilla Aerospace is seeking to expand that model by providing tokenized equity exposure to leased jet engines, according to Bloomberg.

The company currently holds 69,802 ETH and ETHZ shares are down 28% year-to-date.

The post ETHZilla (ETHZ) Stock Drops as Peter Thiel Exits Ethereum Treasury Firm appeared first on Blockonomi.

簡而言之

Fiverr (FVRR) 股票在2026年指引嚴重低於華爾街預期後，盤前下跌17.4%。

第四季度每股收益爲0.86美元，超出0.74美元的預期，但1.072億美元的收入略低於1.0898億美元的共識。

2026年全年的收入指引爲3.8億到4.2億美元，意味着與2025年相比可能下降3%到12%。

年度活躍買家同比下降13.6%，降至310萬，而每位買家的支出上升13.3%，達到342美元。

首席執行官提到人工智能的採用變化以及戰略轉向低價值交易是寬指引範圍的原因。

總結

蘋果（AAPL）週二上漲了3.2%，在“壯麗七傑”股票中增幅最大。

投資者將蘋果視爲“避風港”，因爲其與競爭對手相比的人工智能支出較低。

蘋果2025年的資本支出爲127億美元，而Meta預計2026年爲1150億到1350億美元。

蘋果宣佈與Alphabet建立人工智能合作關係，使用谷歌的Gemini進行下一代基礎模型。

Wedbush的Dan Ives給予超越市場的評級，目標價爲350美元，暗示約33%的上漲空間。

蘋果股票在週二上漲了3.2%，領先所有“壯麗七傑”的股票，而其大多數同行則收盤走低。

簡明扼要

瑞穗證券對BitGo (BTGO)給予超越市場表現評級，目標價格爲17美元，理由是機構託管規模和穩定的經常性收入。

Canaccord開始覆蓋，給予買入評級和15美元目標，支持BitGo的以託管爲驅動的模式和全球機構的覆蓋。

Clear Street給予買入評級，目標爲18美元——該組中最高，預計從10.76美元上漲67%。

Clear Street預測2028年前淨收入增長約30%，調整後的EBITDA年均增長率約60%，到2028年利潤率上升至約29%。

簡要

英偉達的2025年第四季度13F申報確認其出售了全部772萬股應用數字公司，股份價值約爲1.77億美元。

在週二發佈申報後，APLD在盤後交易中下跌了8.4%。

英偉達還退出了在Arm Holdings和WeRide的投資。

在英特爾（約2.148億股，約79億美元）、諾基亞和Synopsys中開立了新頭寸。

Northland Capital對APLD維持了跑贏大盤的評級，指出有4.3GW的活躍開發管道。

在週二，英偉達最新的13F SEC申報顯示芯片製造商已完全退出在應用數字公司的投資後，應用數字的股票在盤後交易中遭受重創。該股在披露後下跌了多達8.4%。

TLDR

微軟計劃在本十年末之前向‘全球南方’投資500億美元用於人工智能。

該公告是在週三於新德里舉行的人工智能行動峯會上發佈的。

全球南方涵蓋發展中國家和低收入國家，主要位於南半球。

微軟去年在印度的人工智能投資承諾爲175億美元。

MSFT股票在2月17日收盤價爲396.86美元，下跌1.11%。

微軟（MSFT）股票在2月17日收盤價爲396.86美元，下跌1.11%，公司宣佈計劃在本十年末之前向‘全球南方’投資500億美元用於人工智能基礎設施。

TLDR

Bitdeer (BTDR) 已在自我挖礦哈希率上超越 MARA Holdings，達到 63.2 EH/s，而 MARA 爲 60.4 EH/s，來自摩根大通。

Bitdeer 在一個月內增加了 8 EH/s，由其自主研發的 SEALMINER 設備提供動力。

該公司在 1 月挖掘了 668 個比特幣，同比增長 430%。

Roth Capital 將其目標價從 $40 下調至 $30；B. Riley 從 $29 下調至 $22。兩者均維持買入評級。

Bitdeer 正在擴大 AI/HPC 共址業務，同時繼續發展其自我挖礦運營。

根據摩根大通分析師 Reginald Smith 的說法，Bitdeer Technologies 已在上市公司中佔據比特幣自我挖礦哈希率的首位，超越了 MARA Holdings。

簡而言之

西部數據正在出售580萬股Sandisk股票，籌集31.7億美元

股票以比Sandisk最後一次收盤價626.56美元低7.7%的折扣出售

摩根大通和美國銀行的附屬公司正在用這些股票交換西部數據的債務

週二，Sandisk股票在盤後交易中下跌1%，週三盤前再跌1.5%

西部數據在出售後將保留約10億美元的Sandisk股份，並計劃最終出售

西部數據正在出售其Sandisk股份的大部分，股票受到衝擊。

簡述

英特爾股票在週二下跌1.3%，至46.18美元，延續了過去一週7%的跌幅。

第四季度每股收益爲0.15美元，超出預期，但收入同比下降4.2%，降至136.7億美元。

鑄造產量維持在55-65%，遠低於行業標準的80-90%，2021年至2023年損失達120億美元。

華爾街共識爲“減持”，平均目標價爲45.74美元；26個持有，6個賣出，5個買入。

英特爾在AI平臺SambaNova上投資超過1億美元，但分析師希望在升級股票之前看到執行情況。

英特爾股票在週二下跌1.3%，至46.18美元，盤中最低爲45.46美元。成交量約爲6320萬股，約比平均交易量低52%，顯示出缺乏信心。

TLDR

英偉達和Meta擴大了他們的多年度人工智能芯片合作伙伴關係，Meta部署了數百萬個Blackwell和Rubin的GPU和CPU。

交易價值未披露，但匯豐銀行將單個GPU機架的估值定在約300萬美元，Rubin硬件的價格高出約40%。

Meta向英偉達的CPU服務器的轉變威脅到英特爾和AMD在其數據中心的立足點。

這筆交易減少了人們對Meta轉向谷歌TPU的擔憂，這是壓在英偉達股票上的一個關鍵問題。

在Meta選擇英偉達的Spectrum-X網絡交換機而非Arista的產品後，Arista Networks在盤後交易中下跌了3.2%。

TLDR

HIVE Digital發佈了創紀錄的第三季度收入爲9310萬美元，同比上漲219%，儘管比特幣價格下降了10%。

毛營業利潤激增超過六倍，達到3210萬美元，大約佔總收入的35%。

HIVE與Bell簽署了一份爲期兩年的3000萬美元合同，部署504個Nvidia B200 GPU，提升HPC年收入運行率約75%。

9100萬美元的淨損失主要是由於非現金費用，包括5700萬美元的折舊。

H.C. Wainwright維持其買入評級，目標價爲7美元，稱HIVE的交易價格比礦業同行低50%。

TLDR

Robinhood 正在推出一項名爲 Robinhood Ventures Fund I (RVI) 的 10 億美元封閉式基金 IPO，以便零售投資者能夠接觸到私營公司。

IPO 股票定價爲 25 美元，訂單開放時間爲 2 月 17 日，NYSE 交易將於 2 月 26 日開始。

投資組合包括 Stripe、Databricks、Revolut、Ramp 等——單一持股不得超過資產的 20%。

沒有認證要求，沒有投資最低限額，年管理費爲 2%（前六個月爲 1%）。

HOOD 股票在消息公佈後上漲 0.9%。

簡而言之

雙子座太空站 (GEMI) 的股票在周二下跌了 13%，因為其首席運營官、首席財務官和首席法律官全部離開了公司。

卡梅倫·溫克萊沃斯將承擔更多責任，包括監督產生收入的活動。

雙子座正在裁減 25% 的員工，並退出英國、歐盟和澳大利亞市場。

2025 年的淨損失預計接近 6 億美元，儘管收入增長至 1.65 億至 1.75 億美元。

每月活躍用戶同比增長 17%，達到約 600,000。

雙子座太空站的股票在周二下跌超過 13%，因為公司向證券交易委員會提交了文件，披露其三位最高級別的高管離職。

TLDR

eToro（ETOR）股票週二上漲超過20%，Q4每股收益爲0.71美元，超出分析師0.60美元的預期

Q4淨收入同比增長16%，達到6870萬美元；全年淨貢獻達到8.68億美元

加密貨幣收入同比下降，但股票和商品的收益彌補了差額

Coinbase和Robinhood均未能達到Q4預期，使得eToro的表現更加引人注目

2026年1月的加密交易同比下降50%，儘管平臺總交易量增長了55%

eToro股票週二收漲20.4%，達到33.07美元，此前該交易平臺發佈了創紀錄的Q4利潤，並在每股收益上超出分析師預期。

簡而言之

ARK投資在2月17日購買了約800萬美元的博通（Broadcom），約610萬美元的AMD，以及約690萬美元的Coinbase。

最大交易是對特拉迪恩股票的1330萬美元出售。

在一項許可協議後，ARK出售了約630萬美元的Twist Bioscience，股票上漲了7.7%。

ARK還削減了在Airbnb、Pinterest和PagerDuty的持倉。

ARK增加了約450萬美元的CRISPR Therapeutics股票。

凱西·伍德的ARK投資發佈了2026年2月17日的每日ETF交易披露，顯示出技術、生物技術和加密貨幣領域的繁忙買賣。

當天最大的交易是一次出售。ARK出售了43,586股特拉迪恩（Teradyne），這是一家測試設備製造商，交易額約爲1330萬美元。特拉迪恩的股票當天下跌了2.9%，在本月早些時候的財報後反彈後回落。

TLDR:

與 2025 年 12 月相比，2026 年 1 月主要加密交易所的現貨交易量上升了大約 10%。

Bitfinex 在所有交易所中領先，現貨交易激增 67%，其次是 Uniswap 的 62% 和 Upbit 的 44%。

衍生品交易量環比增長僅 0.5%，Hyperliquid 以 46% 的增幅位居首位。

主要交易所的網站流量下降了 0.3%，HTX 在 1 月份記錄了 22% 的最大降幅。



2026 年 1 月加密交易所的交易量在主要交易平臺上呈現混合趨勢。現貨交易環比增長 10%，衍生品幾乎保持在 0.5% 不變，主要交易所的網站流量下降了 0.3%，根據吳區塊鏈的數據。

總結：

比特幣的長期持有者支出利潤率（LTH SOPR）已降至0.88，這是自2023年熊市週期結束以來未見的水平。

長期持有者現在平均實現了損失，標誌着歷史上韌性行爲的急劇轉變。

最近幾天，流入幣安的每日比特幣資金達到了年均水平的兩倍。

長期持有者的流入增加信號持續的賣壓，可能會影響比特幣的短期復甦。



比特幣長期持有者開始感受到長期市場修正的壓力。該資產仍比其之前的歷史最高點低超過45%。

TLDR:

Elemental Royalty成爲全球第一家提供XAU₮可支付股東紅利的上市黃金公司。

XAU₮是一種實物黃金支持的數字資產，結合了黃金的穩定性和區塊鏈的可轉讓性及效率。

Tether首席執行官Paolo Ardoino表示，XAU₮紅利解決了將黃金融入現代金融模型的長期挑戰。

這一舉措表明，代幣化的現實世界資產正在超越交易，進入主流公司金融結構。