Professional
Added to YB: 2024-08-30
Pitch date: 2024-08-29
OKTA [bullish]
Okta, Inc.
+10.17%
current return
Author Info
No bio for this author
Company Info
Okta, Inc. operates as an identity partner in the United States and internationally. The company offers Okta’s suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.
Market Cap
$14.8B
Pitch Price
$80.06
Price Target
122.00 (+35%)
Dividend
N/A
EV/EBITDA
64.88
P/E
100.36
EV/Sales
4.66
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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