11 Best Performing Cybersecurity Stocks So Far in 2025

2. Okta, Inc. (NASDAQ:OKTA)

Year-to-Date performance as of April 25: 28.81%

Number of Hedge Fund Holders: 72

Okta Inc. (NASDAQ:OKTA), a leading identity and access management (IAM) company, provides cloud software that enables organizations to manage and secure user authentication across numerous applications. Its solutions also allow developers to incorporate identity restrictions in applications, websites, online services, and devices.

On March 31, Cantor Fitzgerald initiated coverage of Okta, Inc. (NASDAQ:OKTA), rating the stock Overweight and setting a $130 price target. According to the firm, Okta remains a leader in the identity security field, despite recent growth challenges. After a period of solid growth, with a compound annual growth rate of 41.5% from fiscal year 2019 to 2024, Okta’s revenue growth slowed to 15% in fiscal year 2025, with just 10% growth expected in fiscal year 2026. However, the firm believes that new marketing methods centered on upselling and an improved partner ecosystem could improve sales productivity and perhaps lead to better-than-expected performance.

White Brook Capital Partners stated the following regarding Okta, Inc. (NASDAQ:OKTA) in its Q4 2024 investor letter:

“Okta, Inc. (NASDAQ:OKTA) was basically unchanged from where we bought it in 2024, although its had a good start to 2025. Okta’s products are used by customers and consumers to manage and secure identities. I believe we acquired shares at an attractive price and look forward to publishing a write up early this year.”