We recently published an article titled Why These 10 Stocks Soared Today. In this article, we are going to take a look at where Okta, Inc. (NASDAQ:OKTA) stands against the other stocks that soared on Tuesday.

The stock market finished Tuesday’s trading on a positive note with all major indices ending in the green, buoyed by the influx of corporate earnings results.

The Dow Jones grew by 0.75 percent, the S&P 500 rose by 0.58 percent, and the Nasdaq was up by 0.55 percent.

Ten companies mirrored the broader market optimism, leading the charge with strong gains, predominantly driven by impressive earnings results.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

A mobile application developer programming on a tablet, illustrating the power of the company's adaptive multi-factor authentication.

Okta, Inc. (NASDAQ:OKTA)

Okta, Inc. (NASDAQ:OKTA) extended its winning streak for a sixth straight day on Tuesday, adding 7.4 percent to end at $112.54 apiece as investors cheered news that the company will be included in the S&P MidCap 400 before trading starts on Thursday, May 1.

The company replaced Berry Global Group, a plastic packaging manufacturing company that is set to be acquired by Amcor by the middle of the year. The merger will effectively remove Berry from the index.

While its inclusion in the index does not have any impact on the company’s key financial and operating results, Okta, Inc.’s (NASDAQ:OKTA) addition means greater visibility for the company.

In recent news, the company announced the new Okta Platform, which aims to bring a unified, end-to-end identity security fabric to organizations for managing and securing all types of identities across their ecosystem, from AI agents to API keys to employees.

Overall OKTA ranks 4th on our list of the stocks that soared on Tuesday. While we acknowledge the potential of OKTA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. 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 this cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

 

Disclosure: None. This article is originally published at Insider Monkey.