Okta Inc. (OKTA)
Okta CEO Todd McKinnon on new AI-focused products and growth in tech security
Todd McKinnon, Okta CEO, joins CNBC's 'Money Movers' to discuss the company's new AI-focused tools, his growth strategy in an increasingly competitive landscape, and more.
Surging Earnings Estimates Signal Upside for Okta (OKTA) Stock
Okta (OKTA) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Investors Heavily Search Okta, Inc. (OKTA): Here is What You Need to Know
Recently, Zacks.com users have been paying close attention to Okta (OKTA). This makes it worthwhile to examine what the stock has in store.
Wall Street Analysts Think Okta (OKTA) Could Surge 48.96%: Read This Before Placing a Bet
The average of price targets set by Wall Street analysts indicates a potential upside of 49% in Okta (OKTA). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Okta: The Underappreciated Powerhouse In A Critical, Expanding Industry
OKTA, a leader in identity security, is undervalued at $72, offering strong growth potential and a favorable risk-to-reward ratio for long-term investors. The company boasts consistent top and bottom line growth, with a compelling 5.09% FCF yield. Key risks include growing competition, especially from Microsoft, and valuation concerns if growth slows, but these are manageable, in my opinion, given OKTA's current market position.
Okta: Near-Term Headwinds Likely - Still A Compelling Buy Opportunity
OKTA has been oversold at current levels, as observed in the overly cheap valuations compared to its historical levels and its peers. With the company still reporting robust performance metrics and GAAP profitability for the first time, we believe that its investment thesis remains promising here. This is assuming that the Carahsoft raid does not trigger any headwinds to OKTA's near-term performance, given the recently raised FY2025 guidance.
Is Okta Stock a Buy Right Now?
This identity security leader is down, but not out.
Okta Won't Remain Cheap For Too Long
Okta's stock is down 22% despite beating Q2 FY25 revenue and non-GAAP operating income estimates, due to declining cRPO and NRR amidst macroeconomic headwinds. The company continues to show strong upmarket momentum with customer count in its $100K+ ACV cohort growing to 4620, driven by deeper channel partner relationships and product innovation. The company raised its FY25 guidance, which reflects management's optimism, but investor skepticism persists due to declining NRR and cRPO, impacting growth prospects.
Best Growth Stocks to Buy for October 1st
CARG, OKTA, and UL made it to the Zacks Rank #1 (Strong Buy) growth stocks list on October 1, 2024.
Okta: Bargain Stock With A Path To Recovery (Rating Upgrade)
Shares of Okta have slid ~15% this year, vastly underperforming the S&P 500 and other tech names. I'm upgrading Okta to a strong buy as the company showcases consistent performance amid a macro slowdown, including a FY25 guidance boost recently in Q2. The company's margins have expanded healthily even as growth slowed, while FCF continues to jump quickly, allowing for modest FCF valuations.
Play Likely Earnings Beat With 4 Top-Ranked Stocks
Top-ranked stocks Okta (OKTA), Chewy (CHWY), Norwegian Cruise Line (NCLH) and Barrick Gold (GOLD) are likely to beat on the bottom line in their upcoming releases.
Down -22.46% in 4 Weeks, Here's Why You Should You Buy the Dip in Okta (OKTA)
The heavy selling pressure might have exhausted for Okta (OKTA) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
