Okta's Rapid Revenue Growth Continued Unabated in Q1

Okta (NASDAQ: OKTA), an identity management platform provider, has morphed into a Wall Street darling recently. Following a sudden sharp decline in its stock price when the coronavirus market crash first started, Okta shares have rebounded to new highs recently. Investors have turned to high-growth tech stocks like Okta in a bet on the acceleration of digital trends as consumers shelter at home and as many companies are enabling their employees to work virtually.

Investors weren't wrong about their optimism for Okta during these uncertain times. Revenue growth actually accelerated slightly during its fiscal first quarter -- a period that ended on April 30 -- as companies continued to choose Okta's Identity Cloud to help securely connect their workforces to needed technologies.

Here's a closer look at this growth stock's latest earnings report.

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Source Fool.com