107.00 +0.60 (0.56%)
After hours: 4:39PM EDT
|Bid||106.45 x 1200|
|Ask||106.44 x 1000|
|Day's Range||106.22 - 113.00|
|52 Week Range||41.88 - 141.85|
|Beta (3Y Monthly)||0.98|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||142.63|
High-growth tech firms have lost significant market value in the first half of October. TTD, NOW, OKTA, and TWLO are all trading lower today.
Workday Inc. shares are off more than 11% in Wednesday morning trading and pacing the declining software sector after the company held its user conference and analyst day. Several analysts flagged the company's commentary on its human-capital management product, which Workday expects to end the year with 20% growth, marking a slowdown. "Financials will need to continue to grow at healthy rates to offset this," wrote Jefferies analyst Brent Thill, though he said the attachment rate of financials to the core product is relatively low, suggesting opportunity. While Workday also announced some new products, Macquarie analyst Sarah Hindlian questioned the revenue potential for some of them. "For example, blockchain-enabled Workday Credentials allows verification of credentials such as employment and educational history," she wrote. "We think this is likely a limited market opportunity." Another issue for Workday is that its chief executive commented that the company has "definitely seen some delays" in deal activity, but Workday doesn't expect these to impact the business or result in cancellations. Other software stocks are getting hit in Wednesday trading as well, including Slack Technologies Inc. , which was the subject of a price-target cut at Morgan Stanley, and Adobe Systems Inc. , which received a Citi Research downgrade. Shares of Okta Inc. , Splunk Inc. , Zoom Video Communications Inc. , and Atlassian Corp. PLC are also down. The iShares Expanded Tech-Software ETF is off 2.3%, while the S&P 500 has lost 0.1%.
Seemingly in recent years, technology-related initial public offerings fall into two camps: those who perform stunningly well, and those that crumble badly. Identity management specialist Okta (NASDAQ:OKTA) definitely belongs in the former category. In April of 2017, OKTA stock started off with an IPO price of $17. Today, shares are a little bit shy of $116.Source: Michael Vi / Shutterstock.com Despite a general slowdown that started in August of this year and was exacerbated last month, Okta Inc stock has nevertheless enjoyed an overall brilliant performance. Since this January's opening price, OKTA has gained over 89% in the markets. And in the current month, shares are up nearly 18%.It's one of the few bright spots in an environment mostly focused on the unpredictable U.S.-China trade war negotiations. Further, the narrative behind this conflict helps bolster the argument for OKTA stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhile the headlines focus on the economic aspect of the trade war, what gets lost is how we got here. Unbalanced trade deficits, as well as China's stealing of intellectual property (IP) from American tech firms like Micron Technology (NASDAQ:MU), have long dogged prior administrations. Contrary to the traditional strategy, though, President Donald Trump has thrown diplomacy out the window, instead opting for geopolitical hardball. * 7 Tech Stocks You Should Avoid Now But underlining this nasty and ongoing dispute is the need for digital security. OKTA specializes in identity management, which involves much more than making sure only the right people can access specific information. Rather, the company recognizes that we live in a digitally interconnected world. Their technologies facilitate collaboration while still protecting IP and other valuable assets.In the past, this has driven Okta Inc stock. But is there enough room today for a repeat performance? Okta Stock Is Interesting, but Not at This PriceOver the past few years, we've seen tech upstarts like Twilio (NYSE:TWLO) impose an outsized influence relative to their size. OKTA stock operates under a similar principle.Undoubtedly, one of the top attributes for the company is its scalability. Rather than an individual company investing in its own security protocol, it often makes economic sense to outsource this function. As a specialist, OKTA can provide cost-effective solutions quickly, thus driving the case for Okta stock.At the same time, being a specialist has some drawbacks. Because these types of companies operate in a relatively narrow focus, they lack robust revenue diversity. If growth slows down in a key market, it could lever a larger-than-normal impact. And that's what I believe happened with OKTA stock in recent months.In August, management released its earnings result for the second quarter. On paper, the company beat both per-share profitability and revenue expectations. However, Okta stock slipped on the announcement, and tumbled days later.Sure, the company produced some impressive numbers. But on a longer-term timeframe, those figures are becoming less impressive. Click to EnlargeFor instance, in Q4 2016, OKTA rang up $49.3 million in sales, which represented nearly 82% growth year-over-year. In Q4 2017, the company delivered revenue of $77 million, but a growth rate of "only" 56%. One year later, the sales tally increased to $115.5 million, but the growth rate declined again to just under 50%.In the Q2 2019 report, OKTA drove home $140.5 million, while sales growth slipped to 48.5%. Of course, all companies experience growth declines as they progress nominally. But with OKTA stock having gained so much, investors wanted to see more.They didn't get it, which resulted in volatility for shares. Low Barrier to EntryAnother potential risk factor for Okta Inc stock is the relatively low barrier to entry for the target industry.Ironically, the attribute that makes OKTA stock so compelling - effective security solutions for corporations - is what makes it vulnerable to competition. Interestingly, management has invested funds into blockchain technology to bolster its security offerings.Currently, few players can do identity management quite like Okta Inc. But tellingly, the blockchain is an open source innovation. Thus, another upstart with a better way of doing business could end up disrupting this space.And it's almost inevitable that identity management will attract more competitors. Looking at OKTA's cost of goods sold, they're very low relative to top-line sales. With quarterly gross margins consistently coming in above 70%, this is not the most capital-intensive industry.That's not to say that you should ignore OKTA stock indefinitely. But at the current price, I think the risks outweigh the rewards.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Beverage Stocks to Buy Now * 10 Groundbreaking Technologies Created by Universities * 5 Semiconductor Stocks Worth Your Time The post Waiting It Out Remains the Best Call for OKTA Stock appeared first on InvestorPlace.
The stock market turned slightly lower in afternoon trading Monday as Wall Street weighed the latest developments in the China trade war.
Cloud-based identity security company Okta were rising on heavy volume Monday after analysts at Citi initiated coverage of the stock with a buy rating and $150 price target. The price target represents a potential 29% upside from the stock's closing price Friday of $116.24. Analyst Walter Pritchard noted that identity management spending is "up for grabs," giving Okta a chance to grab market share.
Hedge funds and other investment firms run by legendary investors like Israel Englander, Jeffrey Talpins and Ray Dalio are entrusted to manage billions of dollars of accredited investors' money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to […]
Okta is rolling out a new slate of access management and security offerings. Okta CEO Todd McKinnon discusses the latest developments with TheStreet.
Shares of Okta (NASDAQ:OKTA) have been under severe pressure, as high-growth stocks are getting hammered. Whether good, bad or mediocre, these stocks are being tossed out the window. Okta stock is in that group, as shares fell 34% from peak to trough in just two months.Source: Michael Vi / Shutterstock.com It's got some investors looking for an opportunity in the name, while others are waiting for the next shoe to drop. Unfortunately, the main driver for the growth stock group may be the overall market.The S&P 500, Nasdaq and Dow Jones are no more than 5% off their highs. Should they see even moderate selling pressure -- say, down 7% to 10% from their highs -- individual stocks will likely take another beating.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn the flip side, should the major indices push back to new highs, investors will likely feel confident enough to circle back to these names now that most of them are down 20% or more. Valuing Okta StockAfter the recent decline, we've started to see some life in this group once again. Shopify (NASDAQ:SHOP) broke below $300, then reclaimed it, rallying to around $50 per share from its lows. Roku (NASDAQ:ROKU) jumped almost 10% on Wednesday after an analyst upgrade. After breaching the 200-day moving average, Okta stock has recovered nicely as well, up about 25% from the lows. * 10 Super Boring Stocks to Buy With Super Safe Returns So, has this group bottomed? Perhaps. But I wouldn't be surprised by a retest or a near-retest of the recent lows.When we see a massive rally like we did in Okta Inc stock -- a triple from the fourth-quarter lows -- followed by a catastrophic unwind, these stocks need time to build bases. I can't say confidently whether the latest shakeout has been enough or not. However, my biggest issue with OKTA is the valuation.Last quarter, OKTA delivered a beat across the board. Earnings, revenue and management's outlook for next quarter and the full year were impressive. As such, full-year expectations now call for 41% revenue growth this year to $562.86 million.While the growth rate is impressive, we're still talking about a stock with a $14.1 billion market cap. That's 25-times current sales!Say estimates of 34% revenue growth next year are too conservative, and Okta again grows revenue past 40%, say to $800 million. That's great, but we're still talking about 17.6-times forward sales at present value.And remember, I'm no perma-bear on Okta. This was one of my favorite mid-cap stocks earlier this year. This group has performed incredibly well, even considering the big correction.On the plus side, OKTA recently turned free cash flow (FCF) positive, while gross margins and gross profit continue to surge. On the downside, it's not yet profitable and FCF is barely more than breakeven. Trading OKTA SharesOkta stock will rally eventually, but that doesn't calm investors' worries about the valuation. The question then becomes, when will names like Okta, Alteryx (NASDAQ:AYX), Veeva Systems (NASDAQ:VEEV), Shopify and others come to more realistic levels?For instance, when will the price-to-sales ratios drop from the mid-20s to the teens? Not that that's cheap, but it's at least palatable. For Okta stock, that would drop the stock about 30% from current levels, based on fiscal 2020 (this year's) sales. That would put shares more than 10 points below the September low, landing it down near $82.50. Click to EnlargeCurrently, shares are trading just under $120, as the 50-day moving average and 78.6% retracement keep a lid on Okta stock. Over $120 and OKTA may accelerate higher.If this level holds shares in check, bulls need to see the 200-day moving average and the 61.8% retracement hold as support. If they fail, the September low near $93.50 is on the table.So, is Okta Inc stock safe to buy yet?For me, I like to see huge washouts in high-growth names once they've lost momentum. Specifically, I look for reductions exceeding 40%, like we've now seen in Roku. Specifically, with Okta, I would really like to see the stock decline more before initiating it as more than a trade.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long ROKU. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Is Okta Stock Too Dangerous to Own? appeared first on InvestorPlace.
Okta rolled out a slate of new cybersecurity, access management and authentication tools with major enterprises in mind. CEO Todd McKinnon talks to TheStreet about why Okta's laser-focused on the largest organizations in the world.
Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, today at Okta Showcase announced DynamicScale, a new high capacity customer identity offering that enables transformative scale for the largest businesses and the most highly-trafficked apps and sites on the internet, supporting traffic bursts and extended use of up to 500,000 authentications per minute. This industry-leading infrastructure technology also gives DevOps and engineering teams the flexibility to test their applications with massive volumes of authentication, authorization, and user management traffic. With these enhancements, customers can ensure the performance and reliability of their apps under peak workloads and within the entire spectrum of identity use cases, whether it be a new product release, a viral marketing campaign, or a major shopping weekend.
New innovative approach to security turns targets into first responders, enabling administrators and end users to make informed security decisions, faster
Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, today announced a strategic partnership with Atlassian, a leading provider of team collaboration and productivity software, to accelerate organizations’ move to the cloud. In order to compete with today’s disruptors, organizations of every size and industry are investing in cloud technologies to increase workforce productivity and improve customer engagement.
It's been about four years since Square (NYSE:SQ) came public. At the time of the deal, there was mostly a chilly reception from investors. Square stock priced at $9, which was below the range of $11 and $13. The valuation was actually lower than the company's prior round of venture funding.Source: Shutterstock Interestingly, recently SQ stock is undergoing a similar period of skepticism (which, by the way, has come after a powerful bull move for the past couple years). During the past few months, the shares have gone from $82 to $59. The result is that the year-to-date return on Square stock is only about 7%. In fact, for the past 12 months, the shares have sustained a 39% loss.It's true that many tech stocks, especially the high-fliers, have come under pressure as well. Just look at the major drops in companies like Zoom Video Communications (NASDAQ:ZM) and Okta (NASDAQ:OKTA).InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut hey, when it comes to tech stocks, there are periodic swoons. Yet they have been temporary - and yes, good buying opportunities. * 7 Important IPO Stocks to Watch for the Long Run So might this mean that SQ stock is a good opportunity right now? Well, there's little doubt that the company has a solid platform and is a leader in the fast-growing payments market.All this has come from a fairly simple application, launched in 2009, that involved a credit card reader that connected to an Apple (NASDAQ:AAPL) smartphone or Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) Android device.From there, CEO Jack Dorsey was aggressive in expanding the platform into a myriad of categories like payroll, gift cards, loyalty programs, marketing services, eCommerce, business loans and so on. The result is that Square has become a very sticky service.Although, the move into loans may be having the most impact. "The company is getting a piece of the origination fee, which is pure profit," said Chris Ligan, who is the VP of Acquisitions for point-of-sale credit card processor Auric. In all, SQ has loaned customers about $5 billion. The Market and Square StockThe market opportunity for payments is enormous - estimated at over $100 trillion on a global basis. But this means there is much competition coming into the segment. Of course, there are startups popping up as the venture capital markets are awash with huge amounts of money.But even traditional financial institutions are leveraging their own platforms and customer bases to get a piece of the opportunity. Consider that Bank of America (NYSE:BAC), BB&T (NYSE:BBT), Capital One (NYSE:COF), JPMorgan (NYSE:JPM), PNC Bank (NYSE:PNC), US Bank (NYSE:USB) and Wells Fargo (NYSE:WFC) are the backers of a payments app, called Zelle, which has been getting lots of traction."What ends up happening is as concepts get commoditized, it is tough to remain relevant," said Zafin executive vice president of global partner growth and sales strategy, Meenaz Sunderji. Bottom Line on Square StockEven with the drop-off in the share price, the valuation on SQ stock is still far from cheap. Consider that the forward price-to-earnings multiple is about 54X. In other words, Wall Street is still expecting quite a bit of growth on the top line.But this could be tough to maintain. Besides the emerging competition and the risks of commoditization, SQ also is vulnerable to a slowdown in the U.S. economy (and yes, the recent data does look ominous). Let's face it, the company's customer base is primarily made up of small businesses, and they usually get hit the hardest when the economy goes into recession.So in light of all this, it's probably best to avoid Square stock for now.Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Important IPO Stocks to Watch for the Long Run * 7 High Volatility Stocks to Buy as the Market Rebounds * 7 Dow Jones Industrial Average Stocks to Sell The post Things Bleak for Square Stock in a Slowing Economy appeared first on InvestorPlace.
Four top software stocks on seasoned hedge fund manager Jim Roppel's watchlist include Atlassian stock, Okta stock, ServiceNow stock and DocuSign stock.
Cyberattacks have become increasingly common in business today - proprietary information as well as confidential customer information constantly being at risk of attack.
As long as you're using a very small portion of your trading account, respecting your stop-losses, and able to handle the risks involved, it might be okay to bet on a lesser-known investment like Okta (NASDAQ:OKTA), but Okta stock comes with a lot of baggage.Source: Sundry Photography / Shutterstock.com I'm not against taking on some riskier investments, and Okta certainly fits into that category. The company specializes in security solutions and identity protection with a cloud-storage angle; this sounds promising on the surface, but a deeper dive will reveal some potential issues with OKTA stock. What Scares Me About OKTA StockYou may have noticed that the stock market is currently undergoing a rotation from momentum stocks (the "momo" stocks, as some folks call them) into value stocks. I've heard a few commentators claim that that's a signal of a weakening bull market, but that's debatable.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Triple-'F' Rated Stocks to Leave on the Shelf In any case, the momo-to-value rotation tends to hit technology stocks the hardest, and especially the high flyers that have experienced a steep ascent in price. Okta Inc. stock indubitably fits that description: it's a cloud-focused company steeped in technology, and OKTA stock's price action looks like a meteorite that went too close to the sun.It's a rather unsettling arc, somewhat reminiscent of what traders previously witnessed with other cloud-centered stocks like Twilio (NYSE:TWLO) and Slack (NYSE:WORK) but more pronounced. Put it this way: the movement from OKTA's $17 IPO price to its all-time high of $141.85, and then the retracement back to $103, isn't exactly what I look for in a potential investment.Too far, too fast. That's my immediate thought when I look at Okta Inc. stock, and even in my most risk-on moods, I'm not one to catch a falling knife. Besides, with the broader market moving away from the "momos" and seeking shelter in older, safer companies, I'll be glad to watch OKTA but I sure as heck ain't gonna chase it. When Bad News Is Good NewsTurning our attention to earnings, some folks might point to the apparently great results from Okta's second-quarter earnings announcement. Evidently, the bar was set so low that an earnings beat was almost inevitable; indeed, the market cheered as the announced loss of 5 cents per share beat analysts' expectations.Even with that, I still see a loss and "not as bad as we thought it would be" simply doesn't cut it for me. In a similar vein, Okta reported operating losses totaling 31% of sales, which is an improvement over the 41%-of-sales operating losses from last year, but is still not confidence-inspiring if you ask me.Given those losses, you'd think that some retrenchment would be in order; to the contrary, however, it appears that Okta has actually ramped up its spending. Year-over-year, the company has increased its employee count by 40%, and Okta's operating expenses have increased dramatically from $105 million to $145 million.It's one thing to be ambitious; it's another matter entirely when a small company accelerates its spending when it should be focusing on its operating losses, an issue you can't spend your way out of.If the market wants to construe Okta's earnings results as good news, that's the market's prerogative; as an independent thinker and investor, I'll pass on this cloud-computing upstart until I see a more disciplined approach to long-term growth. The Takeaway on Okta StockI have to give credit to InvestorPlace's own James Brumley for summing up OKTA's valuation problem: the price-to-sales ratio is 2.2 - far above average - and OKTA is currently trading at 25.7 times its trailing sales.Those numbers alone are enough to scare me away from taking a position in Okta Inc. stock.Sure, the OKTA could still go up in the short-term; markets can be irrational and unpredictable, as we should all know by now. Nonetheless, I'm perfectly content to sit on the sidelines, hoping that OKTA shareholders prosper but not convinced that they're likely to.As of this writing, David Moadel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Triple-'F' Rated Stocks to Leave on the Shelf * 10 Excellent Stocks to Watch for 2020 and Beyond * 7 Consumer Stocks to Buy in an Uncertain Market The post Even If You Like to Bet on Long Shots, Okta Stock Isn't Your Best Choice appeared first on InvestorPlace.
When it comes to investing, everything matters. The fundamentals matter. The stock needs to be undervalued or fairly valued relative to its long-term growth prospects. The optics matter. There needs to be a reason why investors will want to buy the stock for the foreseeable future. And, yes, the technicals matter. The chart needs to support the bull thesis.In this gallery, we will focus on the last of those three characteristics. Specifically, we will be looking at five stocks that have great charts.But, we won't neglect the other two characteristics, either. In other words, we are going to look at five stocks that have great charts, and are simultaneously supported by favorable fundamentals and optics. Why? Because when great charts converge on favorable fundamentals and optics, you usually get a winning stock.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Momentum Stocks to Buy On the Dip Without further ado, then, let's take a look at five stocks to buy with great charts -- and strong fundamentals and optics, too. Stocks to Buy with Great Charts: Okta (OKTA)First up, we have a momentum cloud stock, Okta (NASDAQ:OKTA), which was killed amid the massive September shift from momentum stocks to cloud stocks. And its fundamentals, optics and technicals all say it should bounce back in a big way soon.Let's start with the chart. Throughout the summer of 2019, OKTA stock was forming a bearish head-and-shoulders pattern. Indeed, that head-and-shoulders pattern ended with a big plunge at the end of the summer. But, it appears that this head-and-shoulders pattern has now fully played out. That is, the stock has retraced its way all the way back to the starting point of that head-and-shoulders pattern. OKTA stock appears to be finding support there. It also should find support at the 200-day moving average, which happens to be right around the same level.The technical picture implies that the worst of the recent OKTA selloff is over, meaning the coast is clear to buy the dip.On the fundamentals side, Okta is a big growth cloud security company. It has been, still is and will remain a big growth company with big margins, supported by secular tailwinds in cloud, cybersecurity and the internet of things. Nothing about this secular growth narrative has changed over the past few weeks. As such, the fundamentals remain robust here and support further upside in OKTA stock.On the optics side, the momentum-to-value shift which materialized in September won't last forever. History says it will end, and soon. When it does, the optic backdrop will improve and provide support for a rebound in OKTA stock. General Electric (GE)Next up, we have a beaten up industrial giant, General Electric (NYSE:GE). GE's fundamentals, optics and technicals all imply it could be on the verge of a meaningful breakout.Let's start with the chart. There is one very important thing to watch here -- the 50-day moving average. Specifically, after spending several months sharply below its 50-day moving average, GE stock is on the verge of breaking above the 50-day moving average in a meaningful way. GE stock has only done this once before, back in early 2019. That breakout above the 50-day following a long stint below the 50-day led into a big, multi-month rally in GE stock. The same thing could happen this time around.On the fundamentals side, GE's depressed fundamentals are starting to improve. This breaks down into three things. First, the global economy appears to be stabilizing, and that should provide an upward lift for economically sensitive stocks like GE. Second, GE continues to simplify its operations with asset sales and business divestitures -- moves which create more visibility towards sustained profitability in the long run. Third, GE also continues to reduce its debt load, which ultimately reduces operational risk in the long run and should result in continued multiple expansion for the stock.When it comes to the optics, those look good, too. GE is a very economically sensitive stock. No one wants to buy this stock when the economy appears to be decelerating. But, signs are starting to emerge that the global economy is actually improving, and there's a fresh wave of European Central Bank and U.S. Federal Reserve stimuli on the way which should help improve things even further. As such, over the next few months, the global economic outlook should improve. * 7 Tech Stocks You Should Avoid Now In response, investors will buy into beaten up, economically sensitive stocks like GE. The Trade Desk (TTD)Much like Okta, programmatic advertising leader The Trade Desk (NASDAQ:TTD) is a momentum growth stock which: 1) was damaged meaningfully in the recent pivot out of momentum stocks, and 2) looks ready to rebound in an equally meaningful way.The chart here looks compelling. Since January 2018, TTD stock has formed a solid uptrend. Amid this uptrend, the stock has dropped into technically oversold territory (as defined by a Relative Strength Index reading below 35) only a few times. Each time, TTD stock bounced back from those oversold conditions over the subsequent few weeks to months. Right now, TTD stock finds itself in similar oversold territory. History says what comes next is a sizable rebound rally.It helps that the fundamentals for TTD stock remain very robust. This company is a leader in the field of programmatic advertising, which automates the ad transaction process using data and algorithms. This is a secular growth industry supported by the fact that all processes across the globe are becoming data-driven, automated processes. Nothing about this favorable secular growth narrative has changed recently. Indeed, the last thing we heard from the company was a double-beat-and-raise second-quarter print that showed continued robust revenue growth, margin expansion and profit growth.When it comes to the optics with TTD stock, investor demand should return soon. As mentioned with Okta stock, history says that significant momentum-to-value shifts don't last very long, and when they come to a close, they ultimately result in a big rally for momentum stocks. I don't see this time being any different. As such, current weakness in TTD stock should end with a significant rebound rally. Pinterest (PINS)Next up, we have yet another momentum growth stock, Pinterest (NYSE:PINS). PINS has all the necessary ingredients to stage a meaningful rebound here and now.The technical picture for Pinterest looks very similar to the technical picture of Okta. That is, in late summer 2019, PINS stock was forming a bearish head-and-shoulders pattern. That head-and-shoulders pattern has now fully played out. PINS stock dropped and ultimately found support right around the same level that the head-and-shoulders pattern started. From a technical perspective, it looks like the next few months in PINS stock should be defined by a rebound bid to all-time highs.On the fundamentals side of things, PINS stock remains supported by favorable growth fundamentals. Pinterest is a unique social media platform with hundreds of millions of users. Those users don't go to Pinterest for the same reasons they go to Facebook (NASDAQ:FB) or Twitter (NYSE:TWTR). They go to Pinterest for visual discovery and inspiration -- two use cases which lend themselves particularly well to ads. As such, Pinterest should have no problem over the next several years building out its ad business. Thus, PINS stock will be supported by robust revenue and profit growth -- the sum of which should keep PINS stock on a long-term winning trajectory. * 10 Stocks to Sell in Market-Cursed September On the optics side of things, PINS stock should benefit from the fact that its last earnings report was very, very good. Over the next weeks, investors will look for opportunity in the momentum rubble by identifying stocks which most recently had strong momentum. Pinterest had that. Last quarter, the numbers were so good that PINS stock rallied 20% to all-time highs. Activision Blizzard (ATVI) Last, but not least, we have video game publisher Activision Blizzard (NASDAQ:ATVI). ATVI stock seems fundamentally, technically and optically positioned for a big breakout rally over the next 12 months.Starting with the chart, we can see that ATVI stock appears to be in the first few innings of a multi-month technical breakout. Look at the moving averages in the above chart. A golden cross pattern has emerged. The 50-day moving average has poked its head above the 200-day moving average for the first time in several months. This golden cross pattern has emerged only a few times over the past decade. Each time it has emerged in this way, it preceded a multi-month breakout in ATVI stock.2020 could be a big year for Activision. Next-generation video game consoles from Sony's (NYSE:SNY) PlayStation and Microsoft's (NASDAQ:MSFT) Xbox are launching next year, marking the first console refresh cycle in seven years. More than that, these next-gen video game consoles will have cloud gaming capabilities -- yet another huge advance in the video game industry. Also, Activision's game lineup for 2020 should be stellar.On the optics side, you have a long-term winning stock that went through a rough patch in 2018-2019. Now, the stock appears to be bouncing back from that rough patch. Importantly, it's bouncing back ahead of what is shaping up to be a big 2020. That's a pretty compelling rebound story. Thus, I think buying action in ATVI stock should outweigh selling action for the foreseeable future.As of this writing, Luke Lango was long OKTA, TTD, PINS, FB and ATVI. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post 5 Stocks to Buy With Great Charts appeared first on InvestorPlace.
The cloud-based, identity-management software company went public in April 2017 at $17 a share. Okta stock peaked north of $140 this past July before giving some ground. “Our contracts are getting bigger, and they’re getting longer,” says the CEO.
Okta co-founder and COO Frederic Kerrest joins The Final Round to discuss how his company is surviving this latest bout of market volatility, the future of cyber security, and the IPO landscape.