2 Reasons Okta's Strong Growth Will Continue in 2020

Okta's (NASDAQ: OKTA) business continued to grow rapidly in its fiscal third quarter. Existing customers demonstrated their trust in the online identity solutions company by increasing their spending, and 400 new companies gave Okta their business. On the heels of strong customer success, Okta's top- and bottom-line results during the period both handily beat analyst estimates.

But can Okta keep growing so quickly? While investors should expect deceleration in the company's top-line growth rate throughout 2020 given how high its growth is today -- revenue increased 45% year over year in Q3 -- deceleration throughout 2020 may only be modest. Beyond the obvious secular tailwinds benefiting Okta, such as organizations' digital transformations and a growing need for online identity management, here are two reasons for investors to believe that more strong growth is on the horizon.

Image source: Getty Images.

Source Fool.com