Shane Obata Okta, Inc. OKTA-Q PARTIAL BUY Aug 11, 2023

Delivered a beat and raised guidance, but the street focussed on the amount of business they have not done, a number which missed expectations. The street sees slowing business ahead. Doesn't help that shares were hot going into the quarter.

Reported two weeks ago: great numbers with a clean beat and raised their quarter. Shares popped and can continue to rise, but a recent major hack involved cracking a company network by breaking into an employee's Okta logging credentials.

Privacy breach. Has to earn back respect from the marketplace, because a lot of people got burned. 12-month price target of $118. Wait for earnings to come out and see if it can repair damage to its integrity.

Referring to the dartboard chart from the top of the show, this one's in the second ring of IAM -- identity and access management. Leader in that space for 8 years in a row. King of the double authentication. 

Pretty high-margin business. Just achieved GAAP profitability, making $$ that they can actually bank. Focus this year will be on profit-margin expansion. 12-month target of $105. Buy 1/3 here around $92, low $90s, and mid-$80s. No dividend.

Claim to fame is it's one of the leaders in identity and access management. Cloud-based software solution. Allows developers to build ID controls into apps and websites. 12-month target of $102.25. Buy here around $90, at $86.25, and shouldn't go below $80.