Palo Alto Networks Surges 9%, CrowdStrike Rises 7%, Okta Gains 5%: Can the Cybersecurity Rally Justify Its Valuations?
Quick Read – PANW, CRWD, and OKTA shares rallied Monday, extending strong year-to-date gains, on a UBS forecast projecting 13% cybersecurity market growth. – These cybersecurity stocks have crushed the NASDAQ 100’s 16% YTD gain, but PANW’s 283x trailing P/E and CRWD’s 143x forward P/E leave little room for error. – CrowdStrike’s 4-for-1 stock split takes effect July 2, a catalyst that could amplify retail demand and short-term volatility around the event. – 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 Palo Alto Networks (NASDAQ:PANW) are up 9% to $331.91 at midday Monday, leading a sharp rally across cybersecurity platform leaders. CrowdStrike (NASDAQ:CRWD) stock is up 7% to $747.84, and Okta (NASDAQ:OKTA) stock is up 5% to $130.23.
The synchronized move caps a powerful run for the group. Year to date (YTD), Palo Alto Networks stock is up 79%, CrowdStrike stock is up 59%, and Okta stock is up 51%, dwarfing the NASDAQ 100, which is up 16% YTD. Today’s move in Palo Alto Networks, CrowdStrike, and Okta stems from a broad risk-on tone in software.