Quick Read
-
Okta surged 18% and CrowdStrike climbed 9% after twin Q2 beats, with CrowdStrike raising its full-year net new ARR growth outlook by 630 basis points.
-
CIBR gained 3% Thursday and is up 31% year to date, with Palo Alto Networks rising 5% on the sector read-through from both reports.
-
Okta’s billings dropped 5.4% to $681 million, a bookings softness that could test the AI-agent identity rally in analyst follow-up notes.
-
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and CrowdStrike didn’t make the cut. Grab the names FREE today.
Cybersecurity stocks are outrunning the broad market Thursday after twin fiscal Q2 2027 earnings beats from Okta and CrowdStrike reported Wednesday after the close. The First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR) is up 3% to $96.20 in early Thursday trading. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.3% to $768.17, a fraction of the sector’s move.
Okta (NASDAQ:OKTA) stock is surging 22% to $163.98 after fiscal Q2 2027 results reframed the identity leader as the security layer for AI agents. Meanwhile, CrowdStrike Holdings (NASDAQ:CRWD) stock is climbing 13% to $213.70 following its own beat-and-raise report. Okta stock was up 55% year to date through Wednesday’s close, and CrowdStrike stock was up 61% over the same period.
Peers Palo Alto Networks (NASDAQ:PANW) and Fortinet (NASDAQ:FTNT) are riding the read-through as the platform trade in cybersecurity gets fresh validation. Palo Alto Networks stock is up 5% to $356.17, and Fortinet stock is up 1% to $159.51. Both names sit among CIBR’s largest disclosed cybersecurity-focused positions alongside CrowdStrike.
Twin Beat and Raise Reports Drive the Rally
Okta reported revenue of $805 million, up 11% year over year, and adjusted EPS of $1.05 topped consensus. CEO Todd McKinnon stated, “As AI agents transform every layer of technology, every agent needs a trusted identity and clear controls over what it can access and do.”
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and CrowdStrike didn’t make the cut. Grab the names FREE today.
CrowdStrike posted revenue of $1.47 billion, up 26% year over year, with adjusted EPS of $0.31 clearing estimates. CrowdStrike raised its full-year net new ARR growth outlook by 630 basis points, and CEO George Kurtz declared, “Q2 was the best quarter in CrowdStrike’s history. Delivering record Falcon Flex results, record net new ARR, and accelerating growth, the Falcon is soaring.”
