Investors might want to bet on Okta (OKTA) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this cloud identity management company, should get reflected in its stock price. After all, empirical research shows a strong correlati ...

Summary of Okta, Inc. Conference Call Company Overview - **Company**: Okta, Inc. (NASDAQ: OKTA) - **Event**: Morgan Stanley Technology, Media & Telecom Conference Call - **Date**: March 5, 2024 - **Participants**: Brett Tighe (CFO), Hamza Fodderwala (Morgan Stanley Analyst) Key Points Financial Performance - **Q4 Results**: Strong performance with notable RPO (Remaining Performance Obligations) growth and average contract durations at a two-year high of approximately 2.5 years [2][6] - **Record Margins**: Achieved record margins and free cash flow, attributed to effective execution across the company [3][5] - **Million-Dollar Contracts**: A record number of million-dollar ARR (Annual Recurring Revenue) contracts, growing by 30% year-over-year [9][10] Customer Engagement - **Large Customers**: Success attributed to large customers who tend to sign longer-term deals, indicating strong commitment to Okta's services [7][9] - **Customer Identity**: The customer identity market is seen as a significant growth opportunity, with Okta being the largest vendor in this space [49] Market Dynamics - **Identity Market Size**: The identity market is estimated to be around $80 billion, with substantial room for growth [37] - **Competitive Landscape**: No significant changes in competitive dynamics noted, indicating a stable environment for Okta [36] Strategic Initiatives - **Security Initiatives**: Progress made on security initiatives, including the Secure Identity Commitment, aimed at enhancing security measures [4] - **Focus on Governance and PAM**: Emphasis on expanding into governance and Privileged Access Management (PAM), with early positive signs of customer adoption [12][16] Guidance and Outlook - **Fiscal Year 2025 Guidance**: Projected revenue growth of 10% to 11%, with considerations for macroeconomic stability and potential impacts from recent security incidents [21][22] - **Net Retention Rate**: Expected to remain around 111%, with a focus on upsell opportunities [31][32] Operational Efficiency - **Profitability Improvements**: Significant improvements in profitability driven by cost-effective measures and strategic investments in lower-cost regions [70][71] - **Future Margin Expectations**: Anticipated non-GAAP operating margin to increase from approximately 14% in FY '24 to 18%-19% in FY '25 [72] Channel Strategy - **Channel Growth**: Channel business accounted for about 40% of total revenue in Q4 FY '24, showing growth from previous years [64] - **Partnerships with MSSPs**: Initiatives to work more closely with Managed Security Service Providers (MSSPs) and Global System Integrators (GSIs) to enhance market reach [63][66] AI and Technology Integration - **AI Integration**: Okta has been utilizing AI for a long time, with new products announced that leverage AI for enhanced security and identity management [58][59] Public Sector Focus - **FedRAMP Certification**: Achieved FedRAMP High certification, indicating strong potential in the public sector market [61][62] Additional Insights - **Customer Identity vs. Workforce Identity**: Different buyer personas for customer identity, including roles beyond traditional IT, indicating a broader market engagement strategy [48][49] - **Long-Term Customer Relationships**: Emphasis on the importance of long-term relationships with customers, particularly in light of recent security incidents [25][26] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Okta's strong performance, market opportunities, and future growth strategies.

It's been a tough couple of years for Okta (OKTA 1.11%) investors. After enduring the worst downturn in more than a decade, the cybersecurity specialist suffered a high-profile security breach in mid-2023. Growth slowed to a crawl, and confidence waned.However, Okta's quarterly results have vaulted the company back into Wall Street's good graces, and at least one analyst believes there's much more to come.A rare double upgradeIn the wake of the company's impressive financial results, Bank of America upgrade ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 For the transition period from to (Mark One) Commission File Number: 001-38044 Okta, Inc. (Exact name of Registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) ...

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Okta (OKTA) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Okta is one of 622 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best t ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Shares of Okta (OKTA 20.70%) surged out of the gate Thursday morning, gaining as much as 28.4%. As of 11:30 a.m. ET, the stock was still up 20.8%.The catalyst that sent the cybersecurity specialist soaring was its quarterly earnings results, which suggested the company may finally be on the path to recovery.Beat and raiseFor its fiscal 2024 fourth quarter (ended Jan. 31), Okta generated revenue of $605 million, up 19% year over year, fueled by subscription revenue of $591 million, which grew 20%. The compan ...

Okta (OKTA) reported fourth-quarter fiscal 2024 earnings of 63 cents per share, comfortably beating the Zacks Consensus Estimate by 23.53%. The company reported earnings of 30 cents in the year-ago quarter.Total revenues increased 18.6% year over year to $605 million and surpassed the consensus mark of $586 million. The year-over-year upside can be attributed to higher subscription revenues.Okta’s total customer count was 18,950, up 8% year over year. Customers with more than $100K in Annual Contract Value ...

It’s not too late to invest in Okta Inc (NASDAQ: OKTA) even though it has rallied some 60% over the past four months, says a Bank of America analyst.Okta stock could climb to $135Copy link to sectionMadeline Brooks double upgraded the identity and access management company from underperform to “buy” this morning after it published a strong Q4 earnings report and issued upbeat future guidance. Okta stock opened about 20% up today but the BofA analyst is convinced it could continue to rally and hit $135 over ...

Key TakeawaysOkta shares surged in extended-hours trading Wednesday after the company topped quarterly estimates and raised its full-year sales forecast amid growing momentum from larger customers.The company said it had acquired 120 customers in the fourth quarter with at least $100,000 annual contract value.Okta shares may find overhead chart resistance at $108 and $145 from prior price action.Okta (OKTA) shares surged 23% in extended-hours trading on Wednesday evening after the cloud identity software ma ...