5 Best Cybersecurity Stocks to Buy According to Short Sellers

3. Okta, Inc. (NASDAQ:OKTA)

Short float:5.07%

Number of Hedge Fund Holders:53

Okta, Inc. (NASDAQ:OKTA) is one of the 10 Best Cybersecurity Stocks to Buy According to Short Sellers. On May 26, TheFly reported that Arete analyst Ellie Kearney upgraded Okta’s rating to Buy from Sell, setting a price target of $127 price target. The analyst said it expects a “modest beat-and-raise” quarter for Okta, driven by agentic AI tailwinds.

On May 21, BTIG increased its price target on Okta to $105 from $90 while maintaining a Buy rating on the stock, according to a report by TheFly. The adjustment was part of the company’s Q1 results preview for Security and Infrastructure Software firms. The analyst noted that demand across security remains intact despite uncertainty around budget allocations related to AI initiatives.

Out of 47 analyst ratings compiled by CNN, 70 percent assigned a Buy rating on Okta, while 28% marked it Hold. The stock currently has a median price target of $100, an 8.41% upside from the current price of $92.24.

Okta, Inc. (NASDAQ:OKTA) provides an identity management platform. Its offerings secure AI, machine, and human identity. The company’s customer and workforce solutions empower businesses and developers to protect their AI agents, users, employees, and partners while driving security, efficiencies, and innovation.