OKTA - slowing growth?

Over on the paid boards, TMFMurph posted a link to a Seeking Alpha article on OKTA which claims it was “priced for perfection”: https://seekingalpha.com/article/4356960-okta-dominant-force…

Now when OKTA management itself said that growth would be under 30% for the next two years, my first reaction was to think about selling, but then my inner-Saul whispered a reminder to me that management of good companies typically under-promise and over-deliver. It’s even in the Knowledgebase.

Then I saw this small note from BTIG analyst Gray Powell, who downgraded OKTA, saying: Channel checks indicate customer identity deals have temporarily slowed, Powell tells investors in a research note. With its billings growth likely to decelerate from a 40%-plus pace in recent quarters to something in the low 30’s, investors will increasingly question Okta’s valuation, adds the analyst.

I have no idea if Powell’s “channel checks” are real or not. If they are, it is perhaps a real concern given OKTA’s current valuation.

Here’s a public Fool article on OKTA from a couple of weeks ago: https://www.fool.com/investing/2020/06/23/is-now-the-right-t…

Both the SA and MF articles agree OKTA is a great company with a great product. The SA article points out that OKTA leads the Gartner “Magic Quandrant”, beating Microsoft, IBM, and Ping, for instance, on both “Ability to Execute” and “Completeness of Vision.” So, I don’t think there’s any question on this front.

The question would seem to be whether OKTA’s growth is going to continue at a high enough rate.