Okta: The Turnaround Is Underway (Ratings Upgrade)
OKTAOkta(OKTA) Seeking Alpha·2024-07-01 11:22
alengo/E+ via Getty ImagesI am finally warming up again to Okta (NASDAQ:OKTA) after a brief period on the sidelines. The cybersecurity company is showing real signs of accelerating growth rates, yet the fundamental momentum is not being reflected in the stock price or valuation. The company has a net cash balance sheet, is generating positive cash flow, and appears within striking distance of GAAP profitability. There is still some uncertainty regarding competitive threats given the perceived commoditiz ...