OKTA - Okta Rockets Higher On Strong Q2 Print: Analysts Cheer 'Renewed Focus On Efficient Growth' | Benzinga
Shares of Okta Inc (NASDAQ: OKTA) were flying higher on Thursday after the company reported its fiscal second-quarter earnings.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
BMO Capital Markets On Okta
Analyst Keith Bachman maintained a Market Perform rating, while raising the price target from $85 to $90.
Okta’s quarterly results were ahead of the low guidance and Street estimates, Bachman said in a note.
Although Okta’s growth decelerated in the second quarter, this was milder than in previous quarters, the analyst stated. "In addition, the margin expansion continued, with FCF margins expected to achieve mid-teens in FY24,” he added.
Oppenheimer On Okta
Analyst Ittai Kidron reiterated an Outperform rating and price target of $110.
Okta’s quarterly results highlighting "improved sales execution, high gross retention, and strong upsell/cross-sell activity with existing customers despite a challenging macro backdrop,” ...