Jim Cramer Says He “Would Be a Buyer of Okta”

Okta, Inc. (NASDAQ:OKTA) is among the stocks in focus as Jim Cramer highlighted a market yearning for the status quo ante. Noting that they are “below” their cost basis, a caller asked if they should add to their position in the stock. Cramer said:

Yes, you can buy more Okta. I think that one of the things that Todd McKinnon has demonstrated is consistent earnings power, and I would be a buyer of Okta.

Stock market data. Photo by Photo by Alesia Kozik

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 mentioned the stock during the February 6 episode and remarked:

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.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.