Okta, Inc. (OKTA) Tops Q2 EPS by 11c, Offers Guidance
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August 29, 2024 6:29 AM EDT
TD Cowen analyst Shaul Eyal reiterated a Hold rating and $110.00 price target on Okta, Inc (NASDAQ: OKTA).
The analyst comments "Solid Beats On Top and Bottom Line: For 2Q25 (Jul. 24), total rev grew 16% y/y to $646M (2% above cons.), driven by a 17% increase in subscription rev. cRPO of $1,995M (+13% y/y) came in 2% above the consensus $1,958M. With a non-GAAP operating margin of 22.9% (330bps better than cons.), profitability benefited from higher volumes and more stringent... More
August 29, 2024 6:11 AM EDT
Wells Fargo analyst Andrew Nowinski lowered the price target on Okta, Inc (NASDAQ: OKTA) to $90.00 (from $100.00) while maintaining a Equal Weight rating.
The analyst comments "OKTA was down ~9% AMC largely due to the CRPO guidance for Q3, which equates to just... More
August 29, 2024 5:39 AM EDT
JPMorgan analyst Brian Essex lowered the price target on Okta, Inc (NASDAQ: OKTA) to $105.00 (from $110.00) while maintaining a Neutral rating.
The analyst comments "Execution relatively healthy but we're still waiting for recovery. OKTA delivered solid results with better than expected cRPO, revenue, operating margin, and FCF. Results were positive as the company reached GAAP profitability for... More
August 29, 2024 5:34 AM EDT
Evercore ISI analyst Kirk Materne initiates coverage on Okta, Inc (NASDAQ: OKTA) with a Outperform rating and a price target of $122.00.
The analyst comments "OKTA delivered strong F2Q results that exceeded expectations, but the 2H rev (specifically the implied F4Q guide) & CRPO guide was disappointing and unexpected, given the positive checks from the quarter (here). While the progress on margins and FCF front helps offset the macro pressures hindering the top line, its likely not enough to excite investors until we get line of sight into the acceleration narrative... More
August 29, 2024 5:31 AM EDT
DA Davidson analyst Rudy Kessinger lowered the price target on Okta, Inc (NASDAQ: OKTA) to $85.00 (from $100.00) while maintaining a Neutral rating.
The analyst comments "Per usual, OKTA posted strong FQ2 upside against very conservative guidance. CRPO growth was +13% Y/Y... More
August 29, 2024 5:22 AM EDT
Citi analyst Fatima Boolani lowered the price target on Okta, Inc (NASDAQ: OKTA) to $110.00 (from $115.00) while maintaining a Neutral rating.
The analyst comments "Results cleared undemanding topline hurdles (~2pt upside to cRPO 13%YoY consistent with last Q; ~2pt revs beat to 16% YoY) and OKTA... More
August 29, 2024 5:05 AM EDT
Mizuho analyst Gregg Moskowitz lowered the price target on Okta, Inc (NASDAQ: OKTA) to $104.00 (from $110.00) while maintaining a Neutral rating.
The analyst comments "As expected, cRPO growth of 13% Y/Y nicely exceeded mgmt's generally conservative guide of ~10-11% growth. However, mgmt... More
