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 correlat ...

Okta (OKTA) closed the last trading session at $71.81, gaining 0.8% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $106.97 indicates a 49% upside potential. The mean estimate comprises 34 short-term price targets with a standard deviation of $15.56. While the lowest estimate of $75 indicates a 4.4% increase from the current price level, the most optimistic analyst expects the stoc ...

My name is Jake Blumenthal, I serve as a Wealth Management Advisor & Portfolio Analyst at Meridian Wealth Management, a registered investment advisory. I use a combination of financial, technical, and macroeconomic analysis to best support my clients, form my opinions, and develop investment theses. My research and data analysis shared allow me to clearly review the growth and value of companies along with a vast selection of funds and themes. It also enables me to identify both short-term trends and long-t ...

I am a full-time analyst interested in a wide range of stocks. With my unique insights and knowledge, I hope to provide other investors with a contrasting view of my portfolio, given my particular background.If you have any questions, feel free to reach out to me via a direct message on Seeking Alpha or leave a comment on one of my articles. Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within th ...

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 ...

I recently joined The REIT Forum and if you are looking for more investment ideas like this one, get them exclusively at The REIT Forum with access to our subscriber only portfolios. I last wrote about Okta (NASDAQ: OKTA ) in July, where I reiterated my "buy" rating as I believed that Okta should continue to gain market share as it moved upmarket by leveraging its Amrita runs a boutique family office fund in beautiful Vancouver, where she leads the investment strategy for the family fund. The fund's objecti ...

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]