3 Shares That Are Rising Again With The Nasdaq’s Return – Okta

2- Okta

Okta Inc. is an identity and access management company based in San Francisco. Makes applications that help companies manage and secure user authentication for applications. The company, which produces cloud software that helps developers create identity controls for applications, web services and devices, was founded in 2009 and valued at over $ 6 billion in 2017 with its first public offering. 8 percent increase in Okta's stock means that stocks of the cyber identity specialist is experiencing an acceleration of about 20 percent from recent lows.

30 percent drop in stock from its peak doesn't mean Okta is basically not doing things right.

The company reported a depreciation in its fourth quarter financial results announced last week. Despite a 40 percent revenue gain for the entire year and modest profit for the period, investors were unsure of how to evaluate results that showed slow revenue growth and a potential loss. Okta's $ 6.5 billion purchase offer for Auth0 within the scope of customer identity management was also among the confusing situations. Analysts said there were some advantages that made Okta's acquisition of the Auth0 product in this growing space win-win. As the market loses faith in growth stocks, this appears to be a wrongly timed purchase. Despite this, it is very clear that Okta will not have a customer shortage in the market looking for identity verification services. This awareness in the market raises the stake once again, and this could help Okta gain more momentum in the long run.   3 Shares That Are Rising Again With The Nasdaq’s Return – Okta Source: https://www.fool.com/ You may also be interested in:

3 Shares That Are Rising Again With The Nasdaq’s Return – MercadoLibre