Okta Inc. (OKTA)

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Best Buy Now: Okta

The Stock Advisor Team April 13, 2018 Best Buys Now , Best Buy Now Article

Happy anniversary, Okta (NASDAQ: OKTA)! The business IT security company just celebrated one year on the public markets. As expected, its recently finished fiscal year showed a larger loss than the previous year. This was primarily due to significantly increased sales, general, and administrative expenses, something we fully expected. However, that paid off handsomely with over 60% revenue growth . Even better, the company's cash drain was smaller this year than last.
Okta added 400 new customers last quarter, and existing customers like Farmers Insurance are expanding their relationship, signing up for more products from Okta's suite. This is exactly what we want to see, and this should soon bring Okta positive cash flow and net income, rather than net losses.

Shares jumped following the release of preliminary results in late February, but we think the company has a long growth pathway ahead of it. Don't anchor on how far shares have moved up to date. Concentrate — as we do — on where the company can go in the future. Consider opening or adding to a position in this exciting company.