We recently published a list of Billionaire George Soros’ 10 Mid-Cap Stocks With Huge Upside Potential. In this article, we are going to take a look at where Okta, Inc. (NASDAQ:OKTA) stands against other billionaire George Soros’ mid-cap Stocks with huge upside potential.

George Soros is one of the most successful investors in the stock market’s history. He founded the Soros Fund Management, which currently manages over $6.6 billion in assets. His fund often makes contrarian moves that catch the attention of Wall Street and retail investors alike. Alex Soros, one of George Soros’ sons from his second marriage, was handed over the reins in 2023.

When investors like George Soros invest in companies, they usually have solid reasons to do so. This is why keeping an eye on their holdings is so important. We decided to take a look at George Soros’ Mid-Cap stock holdings to see what mid-cap stocks he is betting on.

To come up with our list of billionaire George Soros’ 10 Mid-Cap stocks with huge upside potential, we first looked at his top 50 stock holdings. We then filtered out the companies between $10 billion and $40 billion in market cap.

After arriving at his top mid-cap holdings list, we then looked at the median analyst price targets on those stocks and then ranked them by their upside potential. We have also mentioned the hedge fund sentiment as per Insider Monkey’s database of Q4 2024.

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)

Soros Fund Management’s Stake Value: $76.3 Million

Number of Hedge Fund Holders: 72

Okta, Inc. is operating as an identity partner. It provides Access Gateway, Okta Device Access, Okta’s suite of products and services, Adaptive Multi-Factor Authentication, and API Access Management. According to the median analyst price target, the stock still has an upside of 29.79%.

Ahead of earnings season, OKTA was in the spotlight at the start of this week after J.P. Morgan reviewed it as its Overweight-rated cybersecurity stock.  The analysts have a positive outlook on the company’s shift towards sales specialization in Customer Identity and Workforce.

Wall Street analyst D.A. Davidson also upgraded the company from Neutral to Buy in the last month after it reported its financial results and provided its outlook. Okta reported stabilizing growth and strong enterprise adoption in its fourth quarter fiscal 2025 results and outlook.

Analyst D.A. Davidson commented:

“With increasing new product mix, enterprise traction, channel momentum, and sales productivity, we now believe double-digit growth is sustainable.”

Similar sentiment was shown by some other analysts at that time. The firm earned an upgrade from  Mizuho Securities from Neutral to Outperform with an increased price target of $127. This upgrade was based on the opportunities to accelerate growth in the upcoming years. Additionally, KeyBanc and Stifel maintained their positive rating on the stock.

Overall, OKTA ranks 10th on our list of billionaire George Soros’ mid-cap Stocks with huge upside potential. While we acknowledge the potential of OKTA as an investment, our conviction lies in the belief that some 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.