12 Best Cybersecurity Stocks to Buy Now

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3. Okta, Inc. (NASDAQ:OKTA)

Upside Potential: 27.44%

Number of Hedge Fund Holders: 65

Okta, Inc. (NASDAQ:OKTA) is one of 12 best cybersecurity stocks to buy now. Oppenheimer analyst Ittai Kidron has raised the firm’s price target on Okta, Inc. (NASDAQ:OKTA) to $135 from $125, maintaining an Outperform rating on the shares. The upgrade follows Okta’s strong fourth-quarter results and an upward revision to its guidance, driven by broad-based momentum across several key areas. According to Oppenheimer, the company saw solid trends among its large customers, contributing to robust growth. Notably, Okta recorded a record contribution from its Auth0 segment, further enhancing its revenue mix. Additionally, growing product cross-sell activity highlighted the company’s expanding product portfolio and customer engagement.

The analyst praised Okta’s overall execution during the quarter, calling it an “excellent quarter” that showcased the benefits of recent sales adjustments and the company’s increasing product breadth. These factors, combined with a favorable market environment, position Okta well for continued growth. Oppenheimer expressed a bullish outlook on Okta’s prospects, establishing the stock as a top pick within its coverage. The firm sees a potential multi-quarter re-rating driven by the company’s strong sales execution and expanding portfolio.

Investors may view Okta’s improving fundamentals and strategic progress as key reasons for confidence in the stock’s future performance. The updated price target reflects Oppenheimer’s belief that Okta is well-positioned to capitalize on its momentum and deliver sustained growth in the coming quarters.

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