Summary * Despite the rivalry with Microsoft and other AM players, Okta continues to be the best choice for enterprises leading a cloud-first, multicloud, and multi-OS environment strategy. * Now that Okta’s stock has doubled since its Nov-22 low, the stock trades not much lower than its fair value. * However, as the long-term thesis is still intact, we believe a buy the dip strategy may be the best way to maximise returns. * Part 1 provides a 4Q23 and FY23 recap and an overview of the thes