Why These 15 Large Tech Stocks Are Skyrocketing So Far in 2025

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13. Okta Inc (NASDAQ:OKTA)

Number of Hedge Fund Holders In Q3 2024: 47

Okta Inc (NASDAQ:OKTA) is an identity and access management (IAM) company with cloud-based solutions.

The stock has surged significantly so far in 2025 after revenue grew 14% year-over-year to $665 million and beat estimates. Current remaining performance obligations (RPO) increased 13% year-over-year to $2.06 billion.

Okta also raised its FY25 guidance with total revenue expected at about $2.6 billion (up 15%) and OCF at $159 million. The FCF margin is projected at 25%.

Furthermore, Morgan Stanley upgraded from “Equal Weight” to “Overweight” with a price target increase from $92 to $97.

The consensus price target of $105.45 implies 7.32% upside.

OKTA stock is up 24.7% year-to-date.

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