None of those is identity management, and most users will need a combination of various solutions to develop reasonable protection against cyber-criminals. Zscaler sells zero trust protection for web based networks, while Palo Alto sells both a zero trust solution and next generation firewalls. I don’t want to suggest that the cyber-security companies mentioned above are really quite analogs of Okta in terms of what they sell: CrowdStrike is still mainly a vendor of endpoint security although it recently has begun to sell an identity management module that has proven to be very successful. That, to my mind, is what makes a contrarian opportunity.
But all of that is now on view, and the shares reflect the disappointment surrounding the fumble, and no longer reflect the potential synergies and accretion from the merger. The company executed a strategic merger, with AuthO and then basically fumbled the ball in terms of achieving sales synergies that were a key justification for the substantial purchase price. As a former owner of the shares, I think it is fair to say that the operational performance of the company has left a bad taste. I recommend the shares of Okta from a contrarian perspective. Threat surfaces keep enlarging, and the consequences of breaches continue to escalate. Cyber security is not optional, and cyber-criminal don’t recognize recessions. The fact is that all of the 3 companies above have recently reported strong numbers and guided for acceleration in previously anticipated growth and margin performance. I have recommended the shares of the leading cyber-security vendors as “safe havens” in the coming recession. Okta, by comparison, is all about pivots and turning, and rectifying past miscues of various kinds. They were the worst performer on NASDAQ for the 3rd calendar quarter, falling 37% Compared to other leading cyber-security names such as CrowdStrike ( CRWD ), down 22% since the start of the year, Palo Alto ( PANW ), down 13% since the start of the year, and Zscaler ( ZS ) down 50% since the start of the year, the performance of Okta is far worse. 30th, the shares are down by no less than 76% since the start of the year, and by 81% since they made an all-time high less than a year ago. Just how much? As of the close on Friday, Sept. But Okta ( NASDAQ: NASDAQ: OKTA ), the leader in the identity management category, has seen its shares fall far beyond average. 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. Michael Vi Okta - Can this sow’s ear ever return to silk purse status?
#SPLUNK GLASSDOOR SOFTWARE#
Okta sign, logo on headquarters building of identity and access management software company.
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