We recently published a list of Top 10 Stocks Wall Street is Discussing. In this article, we are going to take a look at where Okta Inc (NASDAQ:OKTA) stands against other top stocks Wall Street is discussing.
Bill Strazzullo, Bell Curve Trading chief market strategist, said in a latest program on CNBC that the market rally that started during the peak of the pandemic driven by fiscal stimulus seems to have “tapped out.” The analyst sees more pain ahead:
“The bottom line of all this is that we’ve only started this. We’ll be lucky if we get out of this top to bottom only down 20%. I think eventually, across the indices—Dow, S&P, NASDAQ 100—we’ll end up being down 25% before it’s all done.”
Asked what he would advise to long-term investors, the analyst recommended taking some money off the table and bracing for more impact:
“It’s not anything very esoteric. Take some money off the table—you’ll be able to deploy that capital at much better levels later in the year. But right now, Trump is taking us not only into a trade war but into a full-blown recession. I think the mistake people are making is that we’ve been spoiled with these V bottoms—we go down 10 or 12% and then right back up. This is not going to be like that. We are going to be in for a much deeper drawdown and I think something that’s going to last a significant amount of time.”
READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In
For this article, we picked 10 stocks making moves on important news. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A mobile application developer programming on a tablet, illustrating the power of the company’s adaptive multi-factor authentication.
Okta Inc (NASDAQ:OKTA)
Number of Hedge Funds Investors: 47
Ryan Shrout from Futurum said in a latest program on Schwab Network that Okta Inc (NASDAQ:OKTA) could see competition from Microsoft in the future.
“I don’t see CrowdStrike as a huge competitor yet. I know they’re trying to get into that kind of user security area as well, but I think the biggest competition is actually coming from Microsoft. Its ability to bundle services together with the operating system and the platforms is maybe the biggest possible avenue where you could see user and subscription rate loss for Okta.”
White Brook Capital Partners stated the following regarding Okta, Inc. (NASDAQ:OKTA) in its Q4 2024 investor letter:
“Okta, Inc. (NASDAQ:OKTA) was basically unchanged from where we bought it in 2024, although its had a good start to 2025. Okta’s products are used by customers and consumers to manage and secure identities. I believe we acquired shares at an attractive price and look forward to publishing a write up early this year.”
Overall, OKTA ranks 7th on our list of top stocks Wall Street is discussing. While we acknowledge the potential of OKTA, our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OKTA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
