Okta Delivers a Beat-and-Raise Performance, Investors Shrug

Enterprise identity management company Okta (NASDAQ: OKTA) reported strong fiscal third-quarter results this week, and also boosted its outlook for the full fiscal year. That's typically a recipe for a stock to pop, but investors largely shrugged off the beat and raise. That's likely due to the fact that Okta shares have already nearly doubled in 2019, stretching its valuation metrics in the process. The stock now trades at around 26.6 times sales.

Here's what investors need to know about Okta's stellar quarter.

Image source: Okta.

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Source Fool.com