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Okta shares jump 7% on move into two multibillion-dollar markets

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Shares of Okta Inc.
OKTA,
+6.82%

surged 7% Thursday after the cloud-services company announced its move into two multibillion-dollar markets, Identity Governance Administration and Privileged Access Management, that will increase its total addressable market to $80 billion from $55 billion by early 2022. The announcement, during Okta’s investor day, underscores its status as a “cloud-first, customer-first” company, Chief Financial Officer Michael Kourey told MarketWatch.

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