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Too Aggressive S&M Spending At Okta Could Turn Investors To Ping Identity

May 01, 2022 9:43 AM ETOkta, Inc. (OKTA), PING13 Comments


  • After the recent security breach at Okta made headlines, its smaller competitor, Ping Identity awoke the interest of the investment community.
  • With its recently perfected full-stack SaaS solution Ping has become a viable alternative to Okta in many segments of the identity and access management market.
  • Both companies have strong growth prospects accompanied by a very conservative valuation, which makes their shares an excellent medium/long-term investment at current levels.
  • Looking solely at current growth forecasts and valuations, shares of Okta seem to be a better investment decision. However, for those investors who are concerned about large losses and a possibly too aggressive sales focus at Okta, Ping Identity could be the better choice.

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Investment Thesis

As the security breach at Okta (NASDAQ:OKTA) enjoyed great publicity in the past month a small competitor of the company emerged on the map of investors and analysts. Ping Identity (NYSE:PING) has

Okta vs Ping Identity - Access Management


Okta revenue trends

Created by author based on company financial data

Number of mention of thw word SaaS on earnings calls

Created by author based on earnings call transcripts

Ping expected revenue and ARR

Ping Identity Q4 2021 investor presentation

Ping ARR growth

Created by author based on company financial data

Expected cash-flow growth

Ping Identity Q4 2021 investor presentation

Ping and Okta S&M as % of revenues

Created by author based on company financial data

This article was written by

Hi there! I’m a former Equity Analyst and a CFA charterholder writing mostly about holdings in my investment portfolio. These are overwhelmingly transformative technology names with perceived significant long-term upside potential. Once I’ve covered a company on SA, I try to update my views on it regularly.I like to do dig deep into company fundamentals and cover topics previous articles didn’t elaborate on. Rigorous valuation is a must in my world. Feel free to share your opinion in the comment section, constructive critique is more than welcome!

Analyst’s Disclosure: I/we have a beneficial long position in the shares of OKTA, PING either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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