Okta Stock Could Be Cruising for a Bruising in June

Everybody's loving Okta (NASDAQ: OKTA) these days. The shares have more than doubled since bottoming out in mid-March, hitting another all-time high last week. The identity management platform provider's stock is an 11-bagger since going public in 2017, and last week's blowout fiscal-first quarter report is making bulls even more giddy.

At least six analysts jacked up their price targets on Okta following Thursday afternoon's report, but we'll get back to that later. There's a lot of optimism in the air. With so many people working from home, it's more important than ever to make sure that it's a company's trusted hire logging in with access to sensitive company info. Okta can't seem to be doing anything wrong, but there's trouble in this bullish paradise.

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Source Fool.com