|Bid||92.02 x 800|
|Ask||92.12 x 800|
|Day's Range||91.04 - 93.42|
|52 Week Range||40.24 - 97.24|
|Beta (3Y Monthly)||1.14|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||88.53|
Is Okta, Inc. (NASDAQ:OKTA) a good stock to buy? Money managers are buying. The number of long hedge fund positions jumped by 8 during the fourth quarter of 2018. There were 32 hedge funds in our database with OKTA positions at the end of September. Overall hedge fund sentiment towards OKTA is at its all time high. This […]
Okta Software (NASDAQ:OKTA) isn't a household name like Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) or Microsoft (NASDAQ:MSFT). However, that doesn't mean investors should ignore Okta stock, which is a growth monster right now.In late-March, we highlighted Okta as a top mid-cap growth stock to buy. Okta was listed alongside six other top picks that caught our eye as shares were racing higher.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWe said investors who have missed the boat thus far (although they shouldn't have based on our call that its earnings selloff was premature and an over-reaction) could hope for a buyable pullback.So far that hasn't materialized, with shares up almost 20% since that article was published. What now? Should You Chase Okta Stock Now?Generally speaking, I don't like to chase stocks. Okta may be a great company but that doesn't mean I want to pile into the name after we've seen a near-24% rally in the S&P 500 and a near-30% rally for the PowerShares QQQ ETF (NASDAQ:QQQ) since Christmas. * 7 Marijuana Companies: Which Pot Stocks Should You Buy? At some point, either the individual stock will pullback for company-specific reasons or Okta will get swept up in a market-wide correction. I'm no doomsday forecaster, but I'm realistic. Stocks don't go from Point A to Point B in a straight line. At some point, we'll get a correction in the name. Whether its 15%, 25% or 40% though, I have no idea.On a correction, investors will have to decide if Okta is a name for them. Keep in mind, the company is not yet profitable. Management's most recent outlook called for a larger-than-expected loss this year, but also better-than-expected revenue growth.At first investors sold the stock on these results, but quickly bid it back up once they realized the growth engine is still churning strong. Estimates call for almost 34% revenue growth this year and for nearly 31% growth next year.The company has $563.7 million in cash and short-term investments, while short-term debt sits at $271.6 million and Okta carries no long-term debt. However, the far more important metric is cash flow.Okta Inc already has positive operating cash flow and is very close to positive free cash flow. If these metrics are able to accelerate and if Okta can turn free cash flow positive, the stock should have even more upside.That said, Okta has one huge knock: The valuation. Shares trade at roughly 20 times this year's sales. So yeah, waiting for a pullback is certainly prudent. Trading Okta Stock Click to EnlargeSo what might a pullback in Okta look like? A 10% correction would drop Okta to ~$85.50, right in line with the 50-day moving average and current channel support. However, it's quite likely that we won't get a 10% correction fast enough to to where these levels are still relevant. It's possible, but not something we should bank on.Shares are holding up over channel resistance and if they surge higher from here, this trend could prove to act as support in the near future on a pullback. But I'm not interested in a buying a 4% or 5% pullback after an even higher run. I'm looking to get a good price on this one.I don't know if we can get a 21% decline from current levels down to $75. But if we do, I would love to consider adding Okta to your portfolio. This would drop Okta down to a critical level and put it just above the 200-day moving average. This level was resistance in September and post-earnings support in March.Aggressive bulls may consider a long position on a correction down to this $85 to $88 level and adding on a dip down to $75. Below the latter level and we'd have to re-evaluate, but as of now these are a few of the levels I'm watching on a correction.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long GOOGL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy for Spring Season Growth * This Is How You Beat Back a Bear Market * 7 Dental Stocks to Buy That Will Make You Smile Compare Brokers The post Okta Stock Is Due a Pullback, so Get Ready to Pounce appeared first on InvestorPlace.
Investors are faced with so much conflicting information that it can be hard to know which expert opinions to take seriously. Even among Wall Street analysts, there is a wide range of performance. If you’ve ...
Zscaler, Twilio, Okta and other cloud computing favorites sport very high multiples as tech investors crowd into growth names. They need to cool off before they can go higher.
At the top end of its pricing range, Zoom would be worth over $8 billion and investors are paying a high multiple relative to its peers.
Okta broke out bullishly Tuesday as cybersecurity names fared well. Apple reversed lower while AMD undercut a buy point.
Another unicorn is lining up an IPO for later this year and 10 Bay Area companies raised about $175 million in funding at week's end. Here are the details.
Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, today announced at Oktane19 the launch of Okta Ventures, a $50 million investment fund. Okta Ventures will invest in and nurture cutting edge technologies aimed at solving challenges across the modern technology landscape, focusing specifically on identity, security, and privacy. In addition to announcing the creation of the fund, Okta is also announcing its first investment in Trusted Key, a blockchain-based digital identity company.
Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, today announced at Oktane19 a new category of apps within the Okta Integration Network (OIN), Apps for Good, to enable workforces to quickly engage with social impact applications including Benevity, Bright Funds, CareerVillage.org, Kiva, VolunteerMatch, and YourCause. As part of Okta’s commitment to strengthening the connections between people, technology, and community, the Apps for Good ecosystem includes apps that focus on charitable donation processing, volunteer management, digital volunteering, and platforms for giving.
Since it was founded in 2009, Okta has been focused on protecting identity --first for individuals in the cloud, and later at the device level
Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, today at Oktane19, announced Okta Hooks, new functionality of the Okta Identity Cloud that enables developers to create custom integrations for the Okta Integration Network. From adding identity proofing and verification into consumer registration decisions to automating IT Service Management actions, Okta Hooks delivers advanced integration options by providing significant latitude for developers to customize and extend the reach and breadth of the Okta Identity Cloud. Okta Hooks is available in Early Access today.
Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, today at Oktane19 announced new risk-based authentication that leverages machine learning to deliver greater security, ease of use, and automated detection and response to identity-based attacks. Risk-based authentication delivers panoramic insights into an enterprise’s employees, partners, and customers while also providing a means for transparent security controls. Through risk-based authentication, enterprises can automate security by implementing significantly stronger authentication techniques and remediation when the scenario calls for it, while simultaneously enabling a seamless login experience for users within their normal behaviors using Okta Adaptive Single Sign-On and Okta Adaptive Multi-factor Authentication.
Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, today at Oktane19, announced Okta Access Gateway, a new product to enable seamless, secure, single sign-on access, management, and visibility into on-premises applications through the Okta Identity Cloud. The new product enables organizations with hybrid IT to achieve cloud to ground resource management by bringing all of the Okta Identity Cloud values, including Single Sign-On and Adaptive Multi-factor Authentication to on-premises applications. Many Okta customers are already using the technology behind Okta Access Gateway today, and Okta expects it to be generally available to everyone later this year.
New product delivers pervasive security for Amazon Web Services, Google Cloud Platform, and Microsoft Azure
Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, today at Oktane19 announced the Okta Identity Engine, a significant upgrade to the Okta Identity Cloud that enables customers to address unlimited identity use cases with Okta. The Okta Identity Engine is a set of customizable building blocks for every identity experience, breaking apart pre-defined authentication, authorization and registration flows. Okta expects the Okta Identity Engine to be made available in the second half of 2019.
What goes down must come up! Three months after one of the worst years on record, investors have seen world stocks and key commodity markets roar back with their best first quarter since 2012. Wall Street is up 13 percent, Europe 12 percent and China has jumped 25 percent, which is almost everything it lost last year and has only been bettered by Colombia. Oil has raced up 30 percent, which is its best performance in any quarter since 2009.
Man do I kick myself on Twilio (NYSE:TWLO). Because of the limited-supply stock offering we got in the IPO, shares exploded to the upside. After rallying from sub-$30 to $65, shares eventually cooled off again. Investors had a chance to scoop up Twilio stock under $30 for about 13 months, essentially all of 2017.Source: John Britton via FlickrThat was the time to strike and that's why I'm kicking myself. Shares last traded below that threshold in February of 2018. Now up near $125, bulls who have been holding the name have seen a massive payoff.Investors will likely never get a chance to buy this one back near $25 to $30 again, but that doesn't mean they won't get a buying opportunity. Should the broader market come under pressure again in the form of a correction, TWLO stock will almost surely go on sale.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 Genomic Testing Stocks That Can Ease the Sting of Theranos For instance, during the fourth-quarter correction, Twilio stock was changing hands at $65, roughly 50% below current levels. Let's look at the charts a bit more. Trading TWLO Stock Click to EnlargeThe chart is a little zoomed out for my preference, but it highlights everything we need in TWLO stock.The first kick-yourself moment came back in February 2018, when TWLO stock went into full-blown breakout mode. Even those who waited until this moment -- buying at $35 instead of $25 -- have reaped massive returns. Those who missed this opportunity weren't left completely in the dust though. They had another chance as well.Shares of Twilio broke down in October, but buying it seemed too risky. That's fine. However, in November, shares put in a higher low, a bullish technical development, and more important, the stock did so after reporting earnings. The report was a blowout, sending the stock from a $70 to $100 in just two days.Yet, like Nike (NYSE:NKE), Roku (NASDAQ:ROKU) and countless others who reported strong reports and were unreasonably sold off during the correction, TWLO stock too found itself lower. Less than two weeks after that report, shares were back to its pre-earnings levels.That was a perfect chance to buy Twilio stock for those that missed it the first time. That's where comes kick-yourself moment No. 2 comes into play if you didn't pull the trigger (don't worry, I'm in the club too).So why am I going through all of this? After all, it was last quarter. Because this price action could repeat itself should we get another market correction. I don't know if we'll see $65 anytime soon and to be clear, I'm not looking for the markets to retest the December lows. But maybe we get another chance at Twilio near $100. Perhaps $90 and even $75 could be on the table in a larger correction. Evaluating Twilio StockOn big rallies, investors should consider lightening up on some of their positions, creating cash for the eventual pullback. These pullbacks should create opportunities for investors looking to get back into the market's best growth names.Twilio clearly has a long runway of growth, but don't mistake this for a cheap stock. With its $15.5 billion market cap, TWLO stock trades at roughly 14 times this year's sales. That said, analysts expect revenue to grow 65% this year to $1.08 billion and another 32% next year.Further, the company is expected to earn 10 cents per share this year and 27 cents per share next year. With Twilio's lack of profitability, there's no point in trying to value it on an earnings basis.Fundamentalists will quickly critique that observation, but just because there's no profitability doesn't mean the company isn't worth investigating. After all, Amazon (NASDAQ:AMZN) and Netflix (NASDAQ:NFLX) have returned thousands of percent over the last decade and trust me, those companies had plenty of profit critics over that span. Heck, even Twilio stock is up 200% over the past 12 months despite its relatively empty bottom line.In fact, many of the market's biggest winners lately, Roku, The Trade Desk (NASDAQ:TTD), Invitae (NASDAQ:NVTA), Okta (NASDAQ:OKTA), etc., aren't yet profitable. But enterprise software has been on fire and for that, Twilio stock is at least deserving of a deeper look on a larger market pullback.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long NVTA, ROKU and AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Genomic Testing Stocks That Can Ease the Sting of Theranos * 4 Pot Stocks That Could Be Fizzling Out * 7 Mid-Cap Growth Stocks That Could Be the Next Amazon or Netflix Compare Brokers The post Twilio Stock Is a Must Buy on Any Market Correction appeared first on InvestorPlace.