TSP Weekly Tech Stock Update—May 10, 2025

This Week: OKTA/ZS new 52-week highs, RBRK rallies, Datadog/HubSpot earnings reviews, Monday earnings preview, OneStream shares had a good week, CRWD trims its workforce, Citi lifts NOW target & more.

Hello from Rob…

—Okta (OKTA, $119.45) shares outperformed this week, gaining 5.8%. On Friday, the stock hit a new 52-week high of $121.93. It’s up 51.5% YTD.

Earlier in the week, Okta was initiated at ‘Buy’ with a price target of $140 at Loop Capital. The firm argues that the identity security market is on the verge of a mass market adoption phase driven by the need to secure GenAI deployments.

Calling out Okta’s Auth0 business, Loop says the company is among the best-positioned vendors in identity. The firm expects Okta to start showing accelerating growth as early as the second half of this year.

Last month, Okta announced the availability of Auth for GenAI in developer preview. The new offering enables developers to integrate secure identity into GenAI applications, helping to ensure that AI agents have built-in authentication, specific authorization and secure API access.

Okta will report FQ1 (April) results on May 27.

*Inside This Issue: Broadcom Shares Rally 50% From April Low

—Paid subscribers will receive the May 2025 PDF of Tech-Stock Prospector (TSP #279) via email on Tuesday, May 13.

—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.