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Cybersecurity stocks are poised to benefit from rising cyber threats amid accelerating digital transformation and cloud migration.
The Zacks Security industry participants, CYBR, OKTA and QLYS, gain from an increase in data breaches, prompting companies to seek comprehensive IT security solutions.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Cybersecurity firm Okta (NASDAQ: OKTA), a frontrunner in identity and access management, has experienced a stock decrease of around 10% in the last month, even after reporting robust first-quarter earnings that surpassed analyst forecasts. This decline is primarily linked to ongoing economic uncertainties arising from tariffs.
Okta (OKTA) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
CYBR, OKTA, and QLYS are gaining from rising cyber threats and demand for advanced, cloud-based security solutions.
Within the technology sector, software stocks have outperformed hardware stocks by 26 percentage points year to date. Software companies are more attractive in the current market environment (particularly those involved with artificial intelligence) because they are generally exempt from tariffs.
You would think that Okta's NASDAQ: OKTA FQ1 earnings release was weaker than expected and compounded by poor guidance, the way its stock price fell after its release. Down more than 15% for the week, the only thing wrong with the report is a hint of caution in the full-year guidance.
Okta (OKTA -3.22%) has been in rally mode for much of this year, but the stock hit a speed bump when it reported its fiscal 2026 first-quarter results. Despite a 15% drop in its share price since May 27, the stock is still up 35% year to date, as of this writing.
Okta (OKTA) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.