Home  »  Stocks to Invest   »  Can Okta Inc. (OKTA) grow through challenges?...

Can Okta Inc. (OKTA) grow through challenges?

Okta Inc. (OKTA) aims to strengthen its global market presence, representing a very high growth potential since it presently receives 16 % of its total revenues from this market.


5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored



Two facts indicate Okta’s intention to expand its operations outside of the United States. To begin with, the Okta Inc. acquired an established competitor – Auth0, a customer identification solution provider. Okta would benefit significantly by expanding its international business through Auth0. As a result of the deal, Okta’s leadership in SaaS will be strengthened, particularly in employee and customer identification solutions. This is a highly aggressive market, where everyone wants to be a part of it, and the entry barrier keeps rising. Therefore, Okta has an added competitive advantage.

Steve Rowland has been added to the staff of Okta as the OKTA stock’s director of international revenue. Before that, he held senior management roles at various companies, including Apigee and Blue Coat, while also serving as Vice President of the Americas for Splunk.

In addition to growing Okta’s global footprint, the new senior executive will deliver predictable revenue outside of the United States. Okta currently has over 7,000 integrations with other software applications and infrastructure providers. Steve Rowland explained that adopting cloud technologies within various business structures will remain the main driver of growth in the coming years.

According to Okta’s management, approximately 55 billion dollars is the estimated market potential for cloud-based employee and customer identification systems. In comparison, in 2020, the OKTA stock’s revenue was approximately $ 1 billion.

The Okta share price is currently trading about 20% below its 52-week high. Among other factors, the OKTA stock fell because investors were disappointed with the quarterly report, as it did not meet forecasts. Specifically, management is planning an adjusted loss next year since the Okta Inc. is currently experiencing high costs as the OKTA stock scales its business and hires more employees.

At the close of Wednesday’s trading, Okta Inc.’s (OKTA) ‘s shares lost $2.11, closing at $224.89. At present, the Okta Inc.’s debt-to-equity ratio is 2.54. OKTA stock has last closed at $ 224.89.

Leave a Comment

Your email address will not be published. Required fields are marked *

Most Popular

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Posts

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.