OKTA Stock Recent News

In the latest trading session, Okta (OKTA) closed at $93.48, marking a +0.4% move from the previous day.

BSVN, OKTA and SVM made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on July 25, 2024.

BSVN, OKTA, SVM, SFIX and XAIR have been added to the Zacks Rank #1 (Strong Buy) List on July 25, 2024.

Zacks.com users have recently been watching Okta (OKTA) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

In the most recent trading session, Okta (OKTA) closed at $94.03, indicating a +0.12% shift from the previous trading day.

I give Okta a buy rating ahead of 2Q25 earnings results. In my opinion, the stock is better positioned after the negatives were priced in post-1Q25 earnings. Management's efforts in reigniting growth through cost-cutting and product innovation should also help improve top-line growth.

In the latest trading session, Okta (OKTA) closed at $93.25, marking a +0.5% move from the previous day.

If you have some cash on hand to invest long term, there are plenty of stocks begging to be bought. Vertex expects several product launches even as its mainstay portfolio continues to drive profitability.

Okta reported strong Q1 FY25 earnings, with revenue growing 19% YoY and non-GAAP operating income increasing 270% YoY. The company is seeing success winning large customer deals, particularly in the public sector, while customers with $100K+ in ACV grew 11.5% YoY to 4550 customers. Plus, its cRPO exceeded management's expectations in Q1, indicating that its go-to-market efforts to realign its sales team and leverage its partner ecosystem are starting to bear fruit.

Okta is showing signs of accelerating growth rates, and solid cRPO growth suggests continued strength ahead. Investors may have missed that OKTA is quite close to GAAP profitability. The stock looks attractive given the conservative outlook and strong financial metrics.