On Oct 17, major Wall Street analysts update their ratings for $Okta (OKTA.US)$, with price targets ranging from $75 to $110.
Morgan Stanley analyst Hamza Fodderwala maintains with a hold rating, and maintains the target price at $100.
BofA Securities analyst Madeline Brooks maintains with a sell rating, and maintains the target price at $75.
Wells Fargo analyst Andrew Nowinski maintains with a hold rating, and adjusts the target price from $100 to $80.
TD Cowen analyst Shaul Eyal maintains with a hold rating, and maintains the target price at $110.
Needham analyst Mike Cikos initiates coverage with a buy rating, and sets the target price at $100.
Furthermore, according to the comprehensive report, the opinions of $Okta (OKTA.US)$'s main analysts recently are as follows:
Okta is acknowledged as a distinct frontrunner in the crucial identity management sector, and its stock's valuation appears quite reasonable. Nevertheless, the company is confronting rising competition, particularly from a major technology corporation, while its execution has experienced unevenness in recent years. At present, there remains a lack of assurance in the company's ability to achieve a lasting and solid improvement in its fundamentals.
After attending the Oktane 2024 event and engaging with customers, partners, and employees, there is a focus on the company's expansion through new products, growth strategies, and the challenges associated with the number of seats. Management anticipates that these seat count challenges may continue into the first half of the next fiscal year but expects them to normalize as they move into the second half of FY26. The company's valuation is still considered appealing.
Okta possesses a comprehensive platform, yet it continues to face challenges due to pricing and competitive pressures. Despite management pinpointing significant growth drivers, projections for FY26 are perceived as overly optimistic.
Okta has faced significant growth challenges due to pressures on seat expansion as customers' buying patterns shift in the current economic climate. Despite this, it's anticipated that the bulk of the renewal cycle has passed, and pressures from existing customers will lessen. Furthermore, the implementation of go-to-market strategies through sales incentives and partnerships is seen as completing the set of tactics to reignite growth and enhance margins.
Here are the latest investment ratings and price targets for $Okta (OKTA.US)$ from 11 analysts:
Note:
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