Quick Read – Scotiabank upgraded OKTA to Outperform with a $165 price target, framing identity vendors as AI beneficiaries and sending CRWD up 5%. – Okta CEO Todd McKinnon argues AI agents are becoming a new enterprise workforce, creating a wave of identities that must be…
cured alongside humans. – CrowdStrike and Palo Alto carry real momentum risk after surging 76% and 97% year to date, even as their fundamentals support the AI-security thesis. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Palo Alto Networks didn’t make the cut. Grab the names FREE today
Shares of major cybersecurity names are rallying in Monday’s midday session. CrowdStrike Holdings (NASDAQ:CRWD) stock is up 5% to $204 and change, leading the group higher. Palo Alto Networks (NASDAQ:PANW) shares are climbing 4% to $363, and Okta (NASDAQ:OKTA) stock is up 4% to $147.
The Amplify Cybersecurity ETF (NYSE ARCA:HACK) is also higher, with the ETF trading up 3% to $110 and change as buyers rotate into the cybersecurity sector. The moves cap a strong recent run for cybersecurity names heading into the summer. The catalyst is a cluster of analyst upgrades from Scotiabank targeting identity and exposure management vendors.