Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Okta's Shares Plunged By 37.6% in September

TheMotleyFool

0 0

Why Okta's Shares Plunged By 37.6% in September: https://g.foolcdn.com/editorial/images/704107/login-and-password-to-access-data.jpg

Shares of Okta (NASDAQ: OKTA) plunged by 37.6% in September, according to data provided by S&P Global Market Intelligence. This decline means shares of the identity management company have lost three-quarters of their value year to date.

Image source: Getty Images.

Okta released its fiscal 2023's second-quarter earnings, and the identity management company's revenue and billings continue to climb. Total revenue hit $452 million for the quarter, up 43% year over year (YOY), while billings came in at $491 million, 36% higher than they were a year ago. Okta forecast a bright outlook for its full-year revenue, with the top line expected to come in between $1.81 billion and $1.82 billion for a YOY growth of close to 40%.

Source Fool.com

Like: 0

OKTA

Share