Okta Stock in 2022: Too Expensive?
Investors have been excited about Okta (NASDAQ: OKTA) stock as a way to gain exposure to the digital transformation industry. The cloud services specialist has a head start in attractive niches like identity management, and it also enjoys a rapidly expanding addressable market in cybersecurity. But its shares completely missed the 2021 rally, falling by more than 10% compared with the S&P 500's 26.9% spike.
The good news is that this slump left Okta cheaper compared with some of its peers, even if it still sports an expensive valuation. But would new investors get a good deal on the stock by buying now?
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Source Fool.com
