Okta Stock: Weakness Is Opportunity [Seeking Alpha]
Okta, Inc. - Class A (OKTA)
Last okta, inc. - class a earnings: 3/5 04:05 pm
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US:NASDAQ Investor Relations:
investor.okta.com
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Source: Seeking Alpha
The market punished Okta after the company reported Q2 earnings, despite decent growth and a shift to GAAP profitability. The deceleration in Okta's revenue growth, now at 16% YoY from over 60% in mid-2022, is largely responsible for this lackluster performance following the earnings print. I identified four main reasons behind Okta's slowdown in revenue growth, including the company's focus on enterprise customers. A closer look at these factors suggests the market over-reacted to Q2 earnings, creating an opportunity for long-term investors. Funtap/iStock via Getty Images More than a year ago, I thought Okta, Inc. ( NASDAQ: OKTA ) stock was ready for a reversal in prospects despite a lackluster YTD performance leading up to my article. OKTA, which was trading around $71 back then, reversed as predicted and hit a high of around $110 in March 2024 before losing most of those gains. Last Thursday, in a wild trading session, Okta stock dropped almost 18% after reporting decent
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High impacting Okta, Inc. - Class A news events
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OKTA
News
- Companies are being careful with software spending, Okta CEO says [Yahoo! Finance]Yahoo! Finance
- Okta, Inc. (OKTA) CEO Todd McKinnon presents at Goldman Sachs Communacopia + Technology Conference (Transcript) [Seeking Alpha]Seeking Alpha
- Okta, Inc. (OKTA) Citi's 2024 Global TMT Conference (Transcript) [Seeking Alpha]Seeking Alpha
- Okta, Inc. (NASDAQ: OKTA) had its price target lowered by analysts at Susquehanna from $110.00 to $85.00. They now have a "neutral" rating on the stock.MarketBeat
- Investors Heavily Search Okta, Inc. (OKTA): Here is What You Need to Know [Yahoo! Finance]Yahoo! Finance
OKTA
Earnings
- 8/28/24 - Beat
OKTA
Sec Filings
- 8/29/24 - Form 10-Q
- 8/28/24 - Form 8-K
- 8/21/24 - Form 4
- OKTA's page on the SEC website