(NASDAQ: OKTA) stock has been disappointing investors in recent years as the company's growth has slowed from the pace it reached during its pandemic-era boom. Shares of the identity and access management technology leader are down by about 75% from the all-time high they touched in 2021, and down about 19% year to date.
Those results may look discouraging, but the underlying trends for Okta's business offer several reasons to remain optimistic that a turnaround could be on the horizon. The company is finally delivering positive earnings with an initiative to leverage artificial intelligence (AI) as a new growth driver supporting a positive outlook.
Let's explore whether Okta stock deserves a buy rating now.
Source Fool.com