The biggest knock against Okta (NASDAQ: OKTA) stock in 2022 has been that the tech specialist is generating significant losses. That central fact didn't change in the company's late-November earnings update. But Okta still made progress toward a return to profitability. The cybersecurity specialist is also projecting faster growth for fiscal 2023.
Let's look at a few reasons why Okta's latest results make it a more attractive stock right now.
Investors were worried heading into the report that Okta would announce another disappointing sales result. Revenue missed management's short-term outlook in the previous quarter, after all, as executives said a slowing global economy was impacting IT spending.
Source Fool.com