Jim Cramer on Okta: “This Market Seems Decided That Anything Okta Can Do, a Chatbot Can Do Better”

Okta, Inc. (NASDAQ:OKTA) is one of the stocks in focus this week under Jim Cramer’s game plan. Cramer was optimistic about the CEO’s performance, as he said:

Now, we’re going to listen to Okta, too, the company that protects identities. I’m sure that CEO Todd McKinnon will do a good job. I just don’t know, once again, if it matters because this market seems decided that anything Okta can do, a chatbot can do better.

Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels

Okta, Inc. (NASDAQ:OKTA) provides identity management and security solutions through products that enable secure access, authentication, and governance across cloud and on-premises systems. Cramer discussed the stock during the February 6 episode, as he stated:

Beyond that, I like three beaten-down cybersecurity names, because I think security’s important enough that most companies won’t want to experiment with having AI make their own in-house replacements. First is Okta, and they didn’t initially make the list because it’s only expected to have 7% earnings growth this year. It’s kind of unusual for this good company. But not long ago, CEO Todd McKinnon told me that Okta has a huge opportunity securing thousands, if not millions, of AI agents that are being created within the enterprise, and that resonated with me, frankly. With the stock selling for just 23 times this year’s earnings, it’s probably worth nibbling at.

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