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Added to YB: 2024-08-30

Pitch date: 2024-08-29

OKTA [bullish]

Okta, Inc.

+0.62%

current return

Author Info

No bio for this author

Company Info

Okta, Inc. operates as an identity partner in the United States and internationally. It offers Single Sign-on to secure access to cloud and on-premises applications from any device; Adaptive MFA for a risk-based layer of security for an organization’s cloud, mobile, and web applications; API Access Management, which enables organizations to secure APIs as systems; Access Gateway, which extends the Okta platform to hybrid IT environments; Okta Device Access, which extends Okta platform’s secure access management to the device login experience; Universal Directory for a cloud-based system of record.

Market Cap

$14.0B

Pitch Price

$80.06

Price Target

122.00 (+51%)

Dividend

N/A

EV/EBITDA

42.95

P/E

60.35

EV/Sales

4.08

Sector

IT Services

Category

growth

Show full summary:
Evercore ISI Initiates Coverage on $OKTA with an Outperform Rating and $122 PT

OKTA: Evercore ISI initiates Outperform, $122 PT. F2Q beat but soft 2H rev & CRPO guide. NRR down to 110%, customer adds light. Margins & FCF improve, offsetting macro headwinds. Governance & PAM progress. Prudent guidance due to macro & breach concerns. Attractive valuation despite near-term challenges.

Read full article (2 min)