Is Okta Stock a Buy?
The cloud-based identity specialist Okta (NASDAQ: OKTA) is poised to profit from the secular shift to cloud computing. But with its stock price close to its all-time highs after having more than doubled from its March lows, is it still a good time for investors to get involved?
Enterprises have been moving applications and infrastructures to the cloud over the last several years to profit from increased flexibility. Cloud resources can be accessed from anywhere and can be scaled at any time. Most likely, this trend will persist, as several companies recently announced long-term arrangements for employees to work from home, no matter how the coronavirus situation settles.
But that implies that users need to access many cloud applications, each with different credentials. This is where Okta's solutions come in handy.
Source Fool.com
