Okta (OKTA) stock flying high, but is it overbought?

Okta provides identity solutions for enterprises, small and medium businesses, universities, and government agencies. The Okta Identity Cloud enables customers to secure their users and connect them to technology from any place. Its clients include JetBlue, Experian, and flex to name a few.

The company which started in 2009 has grown from two to 1,300 employees and has a market capitalization of $6.4 billion. The growth has been tremendous. Some analysts warn of high valuation but they are also ignoring the growth of data privacy industry. Data privacy and cybersecurity will become a $1 trillion industry in the next few years.

Revenue is expected to grow 40% to $84.82 million for the second quarter. The next quarter results will be released after market close on September 06, 2018.


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