OKTA Stock Recent News
OKTA LATEST HEADLINES
This identity security leader is down, but not out.
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.
CARG, OKTA, and UL made it to the Zacks Rank #1 (Strong Buy) growth stocks list on October 1, 2024.
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.
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.
Okta ( OKTA ), a $13 billion provider of identity security solutions, is back to the upper realms of the Zacks Rank after EPS estimates turned back north this month. What's odd is that the stock price is still in the cellar after their late August earnings report saw shares drop over 17% on the day of, and then over -25% total to Sep 10.
Okta, Inc. (NASDAQ:OKTA ) Goldman Sachs Communacopia + Technology Conference September 10, 2024 6:45 PM ET Company Participants Todd McKinnon - Chairperson of the Board, Chief Executive Officer, Co Founder Conference Call Participants Gabriela Borges - Goldman Sachs Gabriela Borges I think we can go ahead and kick it off. Thanks for joining us this afternoon at the Okta session at the GS Communacopia and Technology Conference.
Okta beat estimates in its second-quarter report. A key metric seems to indicate slowing growth ahead.
Okta turned in solid results, with revenue and earnings growth both strong. However, investors appear worried about its subscription backlog.
Okta (OKTA) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).