Okta (NASDAQ: OKTA) investors saw their stock go on a good run in 2020. Shares of the identity management specialist have been boosted by the pandemic, nearly doubling in the last year alone.
Despite a vaccine rollout that has been slowed by distribution problems, the pandemic will eventually come to an end and many employees will return to the office. Against that backdrop, it’s understandable many are concerned about a slowing in Okta’s stock performance, thinking of the company as simply another work-from-home stock that should be avoided as the world returns to normal.
Long-term investors can rest assured that is not the case. Okta has a long runway of growth and remains a buy. Here’s why.