OKTA
Starrob posted the below-linked McKinnon interview on the OKTA board. My takeaways from the interview:
- It’s a reminder that we are still very early in connecting cloud things.
- Identity does seem to be in the middle of it.
- OKTA may be on the threshold of creating an industry standard or OKTA network effect.
Link: (https://www.thestreet.com/technology/okta-ceo-on-right-side-…)
Your takeaways? Am I premature to even think about an OKTA network effect?
……
I only recently discovered that a major OKTA competitor has restructured: - OKTA now competes with Idaptive, an Identity-as-a-Service stand-alone company spun off from Centrify.
- Centrify is now purely a Privileged Access Management company and competes with CyberArk (CYBR). CYBR and OKTA are partners.
- Centrify has been mentioned on these boards previously.
I’m taking this refocused competitor with a new name as a minor negative in the OKTA story.
Link: (https://www.thomabravo.com/media/centrify-announces-focus-on…)
……
Nevertheless, I think Thoma Bravo bears watching because among other things they: - Have refocused Centrify/Idaptive.
- Brought SAIL public.
- Have sold businesses to Roper Technologies (ROP).
- Recently acquired Ellie Mae (ELLI) for $3.7 billion.
……
Investment implications for me: - I’m long OKTA and SAIL.
- I’m looking for an entry point in CYBR because growth has accelerated.
- OKTA, SAIL, and CYBR are all leaders in their Gartner Magic Quadrant niche. They appear to be an effective set of business partners, perhaps they will be a good set investment partners also.
- ROP is a MF recommendation. It’s a unique company. I sold my shares way, way too soon.
- I’ve seen ELLI mentioned around MF, never owned it.
Enough lists. It’s almost Sunday morning. As I look back at my overtrading of OKTA and other stocks in 2018, I might give up trading and “rightsizing” for Lent.
Ross