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Okta (OKTA) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Okta topped estimates in its second-quarter earnings report. It also reported its first quarter of GAAP profits.
OKTA's second-quarter fiscal 2025 results reflect the benefits of an expanding clientele and a strong product portfolio.
Shares of Okta Inc OKTA tanked in early trading on Thursday, even after the company reported upbeat second-quarter results.
Okta's revenue growth is decelerating, with fiscal Q3 2024 guidance pointing to just 9%-10% growth, leading to a hold rating. Despite a strong cash position and increasing profitability, Okta's 25x forward non-GAAP EPS valuation isn't justified given competitive pressures and slowing growth. Okta's strategy to expand product offerings and focus on large enterprises isn't enough to maintain high-growth status.
Okta, Inc. OKTA reported better-than-expected second-quarter financial results after Wednesday's closing bell.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Total revenue exceeded expectations, coming in at $646 million. Non-GAAP operating income and net income per share outperformed guidance.
Okta, Inc. (NASDAQ:OKTA ) Q2 2025 Earnings Conference Call August 28, 2024 5:00 PM ET Company Participants Dave Gennarelli - Senior Vice President, Investor Relations Todd McKinnon - Chief Executive Officer & Co-Founder Brett Tighe - Chief Financial Officer Conference Call Participants John DiFucci - Guggenheim Shrenik Kothari - Baird Annick Baumann - Jefferies Madeline Brooks - BofA Charlotte Bedick - JPMorgan Joe Vandrick - Scotiabank Manraj Bevli - Bernstein Mark Cash - Raymond James Trevor Rambo - BTIG Brian Wilcox - Cleveland Michael Richards - RBC Dave Gennarelli Hi, everyone. Welcome to Okta's Second Quarter Fiscal 2025 Earnings Webcast.
Although the revenue and EPS for Okta (OKTA) give a sense of how its business performed in the quarter ended July 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.