5 Best Reddit Stocks To Invest In

In this article, we will take a look at the 5 best Reddit stocks to invest in. If you want to see some more of the stocks, take a look at the 12 Best Reddit Stocks To Invest In.

5. Okta, Inc. (NASDAQ:OKTA)

Number of Hedge Fund Holders: 47

Okta, Inc. (NASDAQ:OKTA) is a San Francisco, California-based identity and access management corporation providing cloud-based software that aids companies in managing and securing user authentication into applications.

Investors think Okta, Inc. (NASDAQ:OKTA) is one of the best Reddit stocks to invest in because it could be an acquisition target for a bigger cybersecurity company. Furthermore, the Reddit community thinks that Okta, Inc. (NASDAQ:OKTA) stock is bottoming out and provides an attractive entry point to investors. On October 24, Michael Turits at KeyBanc gave Okta, Inc. (NASDAQ:OKTA) stock an Overweight rating with a target price of $70. The analyst anticipates strong Q3 2022 results on the back of survey data obtained from 35 value-added resellers (VARs) and other channel partners. Furthermore, the survey data revealed a stable IT budget growth for 2023 as well. The raised global threat environment due to the tensions between Russia and Ukraine, China, and the US will keep cybersecurity spending strong moving forward, playing in favor of companies like Okta, Inc. (NASDAQ:OKTA).