Core Viewpoint - Okta Inc's shares fell by 16.51% despite reporting strong second-quarter results, highlighting a disconnect between financial performance and market reaction [1][13]. Financial Performance - Okta reported revenues of $646 million and earnings of 72 cents per share, surpassing consensus estimates of $632.7 million and 61 cents per share [2]. - The company's subscription revenue growth slowed to 17% year-on-year, down from 20% in the previous quarter [2]. Guidance and Projections - Current remaining performance obligation (cRPO) guidance for the fiscal third quarter is $1.99 billion, indicating 9% year-on-year growth, which is below the consensus of 10% and a deceleration from 13% in the second quarter [3][6]. - Analysts noted that the forward guidance is disappointing, suggesting a slowdown in growth [6][10]. Customer Dynamics - The net revenue retention (NRR) declined by 1 percentage point in the fiscal second quarter, with management indicating potential further pressure in the latter half of the year due to companies adjusting software spending [7]. - Okta added only 200 net new customers in the quarter, indicating softness in new customer acquisitions [9][10]. Analyst Insights - Analysts expressed mixed views on Okta's performance, with some highlighting solid execution and a strong pipeline, while others pointed out the deceleration in cRPO growth and challenges in new customer growth [4][8][10]. - There is optimism regarding enterprise deals and larger contract sizes, but concerns remain about seat growth and upselling in the SMB space [5][10].

F I I L r I Michael Vi Investment Thesis Okta (NASDAQ:OKTA) delivered a reasonable result for its fiscal Q2 2024 earnings. The problem here is that its guidance points to substantial deceleration in its revenue growth rates. As it stands right now, investors are having to pay 25x next year's non-GAAP EPS for a business with current remaining obligations growing at decidedly low double digits and potentially less, with fiscal Q3 2024 guided to about 9% to 10% growth. Altogether, this is a stock that's no lon ...

Okta Today OKTA Okta $78.40 -18.14 (-18.79%) 52-Week Range $65.04 ▼ $114.50 Price Target $105.58 Add to Watchlist Okta's NASDAQ: OKTA stock price has had a difficult few years. Since August of 2021, shares are down around 63%. However, over the past 52 weeks, the stock is recovering, up 34%. The Technology Select Sector SPDR Fund NYSEARCA: XLK is up 32% over the same period. The technology company known for making it easier to sign into cloud computer applications at work has been posting earnings surprises ...

Okta, Inc. OKTA reported better-than-expected second-quarter financial results after Wednesday's closing bell. Oktal ın has aconsensus price target of $102.48 based on the ratings of X4 analysts. The historark C Oapital on August 29, 2024. The low is trest and the struistes on Novem Okta reported quarterly earnings of 72 cents per share, which beat the analyst consensus estimate of 61 cents by 18.03%. Quarterly sales came in at $646 million, which beat the consensus estimate by 2.06% and represents a 16.19% ...

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Considering buying OKTA stock? Here's what analysts think: Okta Inc has a consensus price target of $102.81 based on the ratings of 34 analysts. The high is $140 issued by WestPark Capital on August 29, 2024. The low is $70 issued by Truist Securities on November 30, 2023. The 3 most-recent analyst ratings were released ...

Okta reported solid earnings and exceeded management expectations across several key metrics. Okta (OKTA -0.45%), a leader in identity and access management solutions, reported its second-quarter fiscal year 2025 results on Aug. 28, 2024. The company delivered strong financial performance, surpassing management's expectations in several key areas. Total revenue was $646 million, beating the forecasted range of $631 million to $633 million. NonGAAP operating income was $148 million, significantly above the e ...

For the quarter ended July 2024, Okta (OKTA) reported revenue of $646 million, up 16.2% over the same period last year. EPS came in at $0.72, compared to $0.31 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $632.24 million, representing a surprise of +2.18%. The company delivered an EPS surprise of +18.03%, with the consensus EPS estimate being $0.61. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expect ...

Okta (OKTA) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 18.03%. A quarter ago, it was expected that this cloud identity management company would post earnings of $0.54 per share when it actually produced earnings of $0.65, delivering a surprise of 20.37%. Over the last four quarte ...

Okta (OKTA) is set to release second-quarter fiscal 2025 results on Aug 28. For the fiscal second quarter, it anticipates non-GAAP earnings in the range of 60-61 cents per share. Revenues are expected in the range of $631-$633 million, indicating growth of 13-14% from the year-ago period's reported figure. The Zacks Consensus Estimate for earnings has remained steady at 61 cents per share over the past 30 days, indicating year-over-year growth of 96.77%. The consensus mark for revenues is pegged at $632.24 ...

Okta (OKTA) shares have gained a modest 7.3% year to date (YTD), underperforming the broader Zacks Computer & Technology sector's return of 22.8% but outperforming the Zacks Internet Software-Services industry's gain of 3.9%. OKTA has been suffering from a challenging macroeconomic environment and the negative impact of the security breach. It expects current remaining performance obligation growth between 10% and 11% which is lower than 15% reported in the first quarter of fiscal 2025. However, we believe ...