OKTA

Okta-Can this sow’s ear ever return to silk purse status? Stocks have been cratering! IT stocks have been cratering more! Even shares of cyber-security companies have fallen with the HACK (HACK) ETF, which incorporates the major cyber-security vendors down by 30% on a year-to-date basis. But Okta, the leader in the identity management category, has…

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We initiated a position in the shares of Okta last fall at a price of $261. We believed that the merger with AuthO was underappreciated, and that the growth opportunity was substantial. In a way, that played out. But along the way, the shares were hugely rerated along with most other tech names. Then the…

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Summary Shares of High-Growth software companies have led the market down so far in 2022. The decline in valuations and absolute share prices has been at rates that rival anything in the recent past. This decline has occurred against a background of strong and growing demand in the Information Technology (IT) space. Ironically, software demand…

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It’s a couple of days after a bit of sentiment reversal. So many names of various kinds including IT stocks had been hugely oversold, and perhaps over shorted. I get asked “is it over.” Usually, after this kind of precipitous sector rotation, most technicians expect to see at least some kind of retest. It isn’t…

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Portfolio Changes

Additional Portfolio changes: Sale of 185 Asana (ASAN) and purchase of 395 shares of GLBE We have made another portfolio transaction today, reducing our holding of Asana by 185 shares and adding 380 shares of Global-E. The portfolio now holds 400 shares of Asana, and 670 shares of Global=E. These changes, and the other changes…

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Summary Ping, a recent IPO, reported a strong quarter recently far exceeding expectations for profitability, cash flow, revenues and ACV increase. The company offers customers alternative solutions in the Identity Management space to Okta and the other stack vendors. The company has specialized in providing identity management solutions for users/customers as opposed to employees and…

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A Mournful Wednesday It was just one of those days The skies were dark and the heavens were weeping. If you are a tech investor and are looking for growth names Wednesday was either the worst of times or an opportunity. While there is no particular index that tracks high momentum/highly valued growth names, a…

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Okta (Okta)  and its valuation Okta reported the results of its fiscal Q4 late last week. It is monotonous to say this, but the results were yet another beat. Total revenues, up 50% year on year, beat the prior consensus by about 7%, Billings were up 52%. The results showed a marginal slowdown in growth…

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Ultimate Software (ULTI) Ultimate Software is getting taken private by a private equity group led by Hellman & Friedman. Ultimate has been around for quite some time-its IPO dates back to 1998. The company provides cloud solutions in the HCM space. Its list of competitors is obviously one of the longest in enterprise software. All…

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I am frequently asked to review specific companies on the site. I can’t get around to doing so as fast as I would like, but eventually I try to respond to all requests. I have had a couple of requests for an update on Okta about which I wrote about 6 months ago. Back then,…

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