These 3 Tech Stocks Are Absurdly Overvalued Right Now
As the world is digitizing and hackers don't rest, cybersecurity is poised to thrive. Okta (NASDAQ: OKTA), CrowdStrike (NASDAQ: CRWD), and Zscaler (NASDAQ: ZS) have been taking advantage of that trend by developing innovative cloud-based solutions that secure computing environments. But investors should remain cautious as the market is already pricing those high-growth tech stocks for outstanding performance over the long term.
Okta provides cloud-based identity capabilities. Its workforce-identity product allows employees to log into thousands of applications by using only one Okta account instead of one account per application. And the company's customer identity solution manages the access of its customers' customers.
Okta has been expanding its platform with application authentication and identity-security solutions that detect the misuse of accounts in real time. Management estimated the company's total addressable market is at $55 billion.
Source Fool.com
