$OKTA vs $PANW: Cybersecurity Leaders Navigating AI Momentum and Valuation Both OKTA and PANW have delivered triple-digit-style gains over the past year, fueled by surging demand for AI-driven cybersecurity. Okta is an identity-security specialist riding early momentum in "agentic identity," while Palo Alto Networks is a diversified cybersecurity platform consolidating network, cloud, and identity tools. Palo Alto Networks generates materially larger revenue and faster growth, but trades at a notably higher forward valuation multiple.