Why Investors Are Still Underestimating Okta
Okta (NASDAQ: OKTA) is experiencing explosive growth. It is riding a secular trend of more companies adopting cloud-based solutions for cybersecurity.
With the Okta Identity Cloud, companies can provide access to mission-critical applications to employees and contractors who may be working from somewhere other than their employer's main office. This promises to be a fast-growing market over the next decade, and Okta is in a great position to benefit.
Investors are high on the stock, but Okta has yet to show a profit. Management is plowing a lot of resources into technology and marketing to attract new clients to the platform. On a trailing-12-month basis, the company reported a net loss of $189 million.
Source Fool.com
