Okta's (OKTA) valuation has significantly corrected since the last earnings call. While I maintain a buy recommendation due to my strong conviction in management's ability to execute coupled with the company's unique positioning in its niche space, I believe it's important to shed some light on the signs that were missed building up to the recent correction. This will also give investors some perspective to avoid getting caught in a similar bubble in the future.
To clarify, I'm not calling to abandon ship. I believe strongly in what management is doing. If you