Professional
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
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.
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