Growth of 40% last year is great, and guidance for another 30% increase in revenue next year is keeping the momentum going. But with growth stocks, any reduction in the expected growth rate of the company can cause shares to plummet. That’s why Okta is down today.
But with growth stocks, any reduction in the expected growth rate of the company can cause shares to plummet. That’s why Okta is down today. However, the company is growing by double digits and has a very sticky business model, so this is a stock investors should buy and hold on to for the ride, even if it’s a little rocky from time to time.
How much did Okta raise in its IPO?
(OKTA) raised $154 million in an initial public offering on Friday, April 7th 2017. The company issued 11,000,000 shares at a price of $13.00-$15.00 per share.
The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.17. The business had revenue of $350.68 million for the quarter, compared to analysts’ expectations of $327.33 million. Okta had a negative net margin of 59.29% and a negative trailing twelve-month return on equity of 14.80%.
You could be thinking “Is Okta’s Auth0 growth stronger than expected?”
The Okta Thesis: Auth0, which the company acquired last year, has begun contributing and its growth has been robust and better than expected, Moskowitz said in the upgrade note.
Why should I invest in Okta?
First, its platform is incredibly sticky. Once organizations start to adopts its products, it becomes embedded into the enterprise infrastructure, making it hard to switch out. Second, Okta has a solid pipeline of new customer prospects.
Despite its lofty valuation, I’d argue that Okta stock is a buy. The company has a strong competitive position in a massive, high-growth industry, which should allow it to grow its revenue at impressive rates for many years to come.
Okta (OKTA) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
One answer is, shares of OKTA can be purchased through any online brokerage account. Popular online brokerages with access to the U. What is Okta’s stock price today?
Who owns OKTA and Microsoft?
Teresa Kersten, an employee of Linked. In, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Jeremy Bowman owns shares of Okta. The Motley Fool owns shares of and recommends Microsoft and Okta. The Motley Fool has a disclosure policy.
Should you buy Okta Inc (Okta) stock at $225?
Shares of Okta Inc (NASDAQ: OKTA) have lost 42% over the past six months, while the company’s organic growth remains strong, according to Mizuho Securities. The Okta Analyst: Gregg Moskowitz upgraded the rating for Okta from Neutral to Buy, while keeping the price target unchanged at $225.
Is Okta’s exposure to customer identity and access management market gaining momentum?
He further mentioned that the Customer Identity and Access Management market seems to be gathering momentum and Okta’s exposure “to this attractive market has significantly increased.”.
The independence of its integration network can make Okta a favorable choice for customers using resources across public clouds, private clouds, and on-premises. As Okta moves upstream, it can land higher-value deals with larger, stickier customers.