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The Nasdaq has risen 15% this year, the bullish of OKTA &PINS just getting started

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In 2022, technology stocks will fall miserably, and in 2023, there will be a salted fish turnaround. Even if recession warnings keep ringing and technology-focused banks, such as Silicon Valley Bank and Signature Bank, go bankrupt, investors will continue to buy technology stocks this year, with the Nasdaq up 17% so far this year. 图片 If you want to take advantage of the rebound in U.S. technology stocks, the following two Nasdaq stocks may be about to rise sharply. 1. $Okta Inc.(OKTA)$ Like other software stocks, shares of identity software provider Okta Inc. (OKTA ) tumbled last year. As for the reason, the company admitted that the acquisition of Auth0 was a mistake, and now the integration of the sales force has become a difficult problem. In addition, the company withdrew its fiscal 2026 revenue forecast of $4 billion and free cash flow of $800 million. However, after the restart, Okta’s business has stabilized, and its stock price has begun to rise. The stock price has rebounded by about 75% from its low point at the end of last year. During this period, the company’s earnings exceeded expectations for two consecutive quarters. Specifically, fourth-quarter revenue rose 33% to $510 million, beating expectations of $489.3 million. Adjusted earnings per share were as high as $0.30, compared with expectations of only $0.09. Okta noted in its earnings report that the company responded to changes in market demand and improved profitability amid slower revenue growth. In the long run, Okta's stock price may continue to rise. The company has an $80 billion addressable market, and its new Privileged Access Management product has sparked interest from many customers, and it recently received a high FedRAMP authorization. Despite promising long-term growth prospects, the stock currently trades at a price-to-sales ratio of 7, and its valuation remains reasonable. 2: $Pinterest, Inc.(PINS)$ Another tech stock about to wake from its slumber is social media company Pinterest Inc. (PINS ). The stock has fallen by about two-thirds from its peak more than two years ago. Like other social media stocks, weaker advertising demand weighed on the company, which saw revenue growth slow to just 4% in the fourth quarter and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) rose from $442 million to down to $196 million. Despite poor financial performance, Pinterest's platform investment has not stopped. The company has aggressively rolled out new products, such as collage-making app Shuffles, while boosting monetization, beefing up video content and increasing integration with key partner platforms like Shopify. The company's platform is based on image discovery, so it has unique advantages in serving e-commerce and advertisers. Considering the current macroeconomic environment, it will be difficult for Pinterest to achieve revenue growth in 2023. Still, the company has cut costs through two rounds of layoffs and, according to its forecast, will boost earnings this year. Once the demand from advertisers picks up, the stock price is expected to take off in the next few years with the improvement of the company's profitability and the growth of the number of users.
The Nasdaq has risen 15% this year, the bullish of OKTA &PINS just getting started

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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