5 Best Cybersecurity Stocks to Buy Heading into 2023

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In this article, we will discuss the 5 best cybersecurity stocks to buy heading into 2023. If you want to read our detailed analysis of the cybersecurity industry and explore similar stocks, you can go to 15 Best Cybersecurity Stocks to Buy Heading into 2023.

5. Okta, Inc. (NASDAQ:OKTA)

Number of Hedge Fund Holders: 47

Okta, Inc. (NASDAQ:OKTA) is an identity and access management company that provides cloud identity solutions to businesses across a range of industries. Okta, Inc. (NASDAQ:OKTA) is well-positioned to continue to grow as more companies move to the cloud and need to secure their data and applications. With its wide range of offerings and its strong customer base, Okta, Inc. (NASDAQ:OKTA) is a leader in the cloud identity and access management space and is placed high on our list of the best cybersecurity stocks to buy now.

Wall Street is bullish on Okta, Inc. (NASDAQ:OKTA). This December, BMO Capital analyst Keith Bachman raised his price target on Okta, Inc. (NASDAQ:OKTA) to $69 from $58 and maintained an Outperform rating on the shares.

At the end of Q3 2022, 47 hedge funds were bullish on Okta, Inc. (NASDAQ:OKTA) and disclosed stakes worth $763.5 million in the company. Of those, Citadel Investment Group was the top investor in the company and disclosed a position worth $87.6 million.

Follow Okta Inc. (NASDAQ:OKTA)

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