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Okta Inc A OKTA

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Raising FVEs Across Our Enterprise Cybersecurity Coverage; Massive Sunburst Breach Creates Tailwind

Mark Cash Senior Equity Analyst

Analyst Note

| Mark Cash |

A host of U.S. companies and government agencies were recently breached in perhaps the most sophisticated cyberattack ever executed. Victims include the U.S. Dept. of Defense, State, Homeland Security, and Treasury, and private companies like Microsoft. Hackers were able to inject malicious code and compromise IT management software provided by SolarWinds between March and June 2020, creating a backdoor for malicious actors to spy on networks and pilfer data.

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Company Profile

Business Description

Okta, Inc. addresses two primary security concerns via its workforce identity and customer identity solutions. The pureplay cybersecurity firm sells products to protect employees, contractors, and partners as well as its customers' end users. Okta's software solutions are cloud-delivered, and its integration network gives customers security protection across a wide variety of applications that are critical to business and government needs. The California-based company went public in 2017 and had over 2,100 employees at the end of the third quarter of fiscal 2020.

100 First Street, Suite 600
San Francisco, CA, 94105
T +1 888 722-7871
Sector Technology
Industry Software - Infrastructure
Most Recent Earnings Oct 31, 2020
Fiscal Year End Jan 31, 2021
Stock Type Speculative Growth
Employees 2,604