8 Stocks on Jim Cramer’s Radar Recently

2. Okta, Inc. (NASDAQ:OKTA

Number of Hedge Fund Holders: 72

When a caller inquired about Okta, Inc. (NASDAQ:OKTA), Cramer said:

“I think Okta is terrific. It’s one of the greatest companies. I tell you, anybody who works there has a great time, and they have done remarkable things. And Todd McKinnon is terrific, and so is cybersecurity…. This one is a winner. I’m going to give you a twofer… CrowdStrike and Palo Alto Networks, they’re all terrific.”

Okta (NASDAQ:OKTA) provides a range of identity and access management tools that help organizations securely manage user identities and control access to applications, devices, and data. The company’s products focus on authentication, user lifecycle management, governance, and protection against security threats. On April 23, Roth Capital started coverage of OKTA with a Buy rating and a $119 price target.

The analyst noted that the company is a leader in Identity and Access Management, Identity Governance and Administration, and Privileged Access Management. Although Okta (NASDAQ:OKTA) faced several challenges, including problems in sales execution and security breaches, the analyst believes these setbacks are fading and expects Okta’s momentum to strengthen.