Is Okta Stock a Buy Now?
Investors aren't sure what to make of (NASDAQ: OKTA) stock ahead of its late May earnings report. On one hand, the cybersecurity specialist looks poised for many years of potentially market-thumping growth as it gains share in key niches like digital-identity management. Yet Wall Street's optimism around those gains is tempered by Okta's poor finances following two consecutive years of big net losses.
The cloud-services company is aiming to take a step toward profitability in this fiscal year and might show progress along those lines in its upcoming report. So let's take a look at why investors might want to watch this stock as an attractive long-term holding.
Many software and cybersecurity companies offer identity-management services as part of much wider portfolios. But the main appeal for Okta is its focus on these mission-critical solutions.
Source Fool.com
Okta Inc. Stock
With 86 Buy predictions and 3 Sell predictions Okta Inc. is one of the favorites of our community.
On the other hand, the target price of 120 € is below the current price of 134.38 € for Okta Inc., so the potential is actually -10.7%.
