Core Viewpoint - Okta (OKTA) shows potential for significant upside, with a mean price target of $106.97 indicating a 49% increase from its current price of $71.81 [1] Price Targets - The mean estimate consists of 34 short-term price targets with a standard deviation of $15.56, suggesting variability in analyst predictions [2] - The lowest estimate of $75 indicates a 4.4% increase, while the highest estimate suggests a 95% surge to $140 [2] - A low standard deviation indicates a high degree of agreement among analysts regarding price movement [7] Analyst Sentiment - Analysts are optimistic about Okta's earnings prospects, with a positive trend in earnings estimate revisions correlating with potential stock price increases [4][9] - The Zacks Consensus Estimate for the current year has increased by 57.5% due to one upward revision and no negative revisions in the last 30 days [10] Zacks Rank - Okta holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimates [11]

Group 1 - The article discusses the role of a Wealth Management Advisor and Portfolio Analyst in utilizing financial, technical, and macroeconomic analysis to support clients and develop investment theses [1] - It emphasizes the importance of identifying both short-term trends and long-term opportunities for portfolio growth and risk mitigation through various valuation methods and modeling techniques [1] Group 2 - The article includes a disclosure indicating a beneficial long position in shares of specific companies such as OKTA, PANW, MSFT, and CRWD, highlighting the author's investment interests [2] - It clarifies that the views expressed are solely those of the author and do not necessarily reflect the opinions of the employer, Meridian Wealth Management [3]

Core Points - The article expresses the author's unique insights and knowledge in stock analysis, aiming to provide contrasting views on investment portfolios [1] Group 1 - The analyst has no current or planned positions in any mentioned companies, indicating an unbiased perspective [2] - The analysis is intended for informational purposes only and should not be considered professional investment advice, emphasizing the need for personal research [3] - Past performance of investments is not indicative of future results, highlighting the inherent uncertainties in stock trading [4]

This identity security leader is down, but not out. Okta (OKTA -0.41%) stock has been disappointing investors in recent years as the company's growth has slowed from the pace it reached during its pandemic-era boom. Shares of the identity and access management technology leader are down by about 75% from the all-time high they touched in 2021, and down about 19% year to date. Those results may look discouraging, but the underlying trends for Okta's business offer several reasons to remain optimistic that a ...

Group 1 - The article discusses the investment potential of Okta (NASDAQ: OKTA), with a positive outlook on its ability to gain market share as it moves upmarket [1] - The author previously reiterated a "buy" rating for Okta in July, indicating confidence in the company's growth trajectory [1] - The article highlights the author's background in investment strategy and experience in high-growth supply-chain start-ups, which adds credibility to the analysis of Okta [1] Group 2 - The author emphasizes the importance of democratizing financial literacy and making complex macroeconomic concepts more accessible to investors [1] - The newsletter authored by the individual has been recognized as a top finance newsletter, indicating a strong reputation in the investment community [1]

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, October 1: CarGurus, Inc. (CARG) : This online automotive marketplace a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 11.7% over the last 60 days. CarGurus has a PEG ratio of 1.05 compared with 1.09 for the industry. The company possesses a Growth Score of A. Okta, Inc. (OKTA) : This identity solutions company carries a Zacks Rank #1, and has witnes ...

Amid sky-high stock markets rallying to new all-time highs, it remains tremendously surprising how much the force of momentum is behind certain names - and has left others completely. In my view, investors racing toward the best AI-fueled tech momentum plays this year With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry to ...

Okta (OKTA) has been on a downward spiral lately with significant selling pressure. After declining 22.5% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier. Guide to Identifying Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is ov ...

Company Overview - Okta is a $13 billion provider of identity security solutions, specializing in ensuring authorized IT personnel are authenticated and monitored [1][4] - The company is aggressively pursuing new AI threat vectors to enhance its security offerings [4] - Okta recently expanded its Auth0 service to attract more corporate clients, increasing the free plan to 25,000 monthly active users (MAUs) and adding features like passwordless authentication and custom domain support [7] Financial Performance and Market Sentiment - Okta's stock price dropped over 17% on the day of its late August earnings report and has declined by more than 25% since then [1] - Despite the stock price decline, the Zacks consensus EPS estimate for fiscal 2025 (ending in January) rose 7% from $2.40 to $2.57, representing a 29X P/E ratio in an industry with 90X P/Es [4] - Large institutions were net buyers of Okta shares in Q2, and the average price target among 34 analysts is above $105, with a low target of $75 [2] Industry and Competitive Landscape - The cybersecurity industry is facing increasingly sophisticated AI-powered bot attacks, with bots making up nearly 50% of all internet traffic [6] - Okta's multi-factor authentication (MFA) and AI-powered bot detection have been effective, blocking 79% of automated login attempts and reducing bot traffic by 90% over a 90-day period [6] - Ransomware costs are expected to grow at a 30% CAGR from $35 billion in 2023 to $220 billion by 2030, highlighting the growing need for cybersecurity solutions [10] Strategic Initiatives and Product Development - Okta's Auth0 expansion aims to provide developers with scalable, secure, and customizable identity solutions, enabling them to build secure applications from the start [7][8] - The company's approach of providing powerful tools to developers mirrors successful strategies seen in other tech ecosystems, such as NVIDIA [8] - Okta is addressing the evolving threat landscape by enhancing its identity security offerings and leveraging AI to combat advanced cyber threats [4][5]

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, September 24th: Yelp Inc. (YELP) : This company that helps connect consumers with local businesses carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.7% over the last 60 days. Yelp has a PEG ratio of 0.81 compared with 1.52 for the industry. The company possesses a Growth Score of B. Okta, Inc. (OKTA) : This identity solutions company carrie ...