Okta IncScotiabank upgraded Okta to Outperform with a $165 price target, framing identity vendors as AI beneficiaries.
Cybersecurity stocks rallied Monday after Scotiabank upgraded Okta to Outperform with a $165 price target, framing identity vendors as AI beneficiaries. CrowdStrike shares rose 5%, Palo Alto Networks gained 4%, and Okta climbed 4%, while the Amplify Cybersecurity ETF advanced 3%. Okta CEO Todd McKinnon argued that AI agents are becoming a new enterprise workforce, creating a wave of identities that must be secured alongside humans. CrowdStrike and Palo Alto have surged 76% and 97% year to date, respectively, though their fundamentals support the AI-security thesis.
Okta IncScotiabank upgraded Okta to Outperform with a $165 price target, framing identity vendors as AI beneficiaries.
Crowdstrike Holdings IncScotiabank's upgrade of Okta and positive analyst sentiment lifted the cybersecurity sector, including CrowdStrike.
Palo Alto Networks IncPositive analyst sentiment and sector rally lifted Palo Alto Networks shares.
NVIDIA Corporation