Okta is pulling back alongside other cybersecurity stocks after Fortinet disappointed, while Josh Brown is watching a technical level around $190 before taking a position. The identity management company serves more than 20,000 customers, including two-thirds of the Fortune 100, and its annual contract value is split between workforce identities, which are growing 11%, and customer identities, which are growing 13%. In its latest quarter, revenue of $805 million exceeded the $795 million expected, adjusted earnings per share reached $1.05, and the company raised its full-year guidance. Brown says a close above $235 could open the way toward $300, while a close below $190 would call the uptrend into question and warrant exiting the position.
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