Okta-Certified-Pro obtain - Level 1: Okta Certified Professional Updated: 2024

Okta (NASDAQ:OKTA) has been analyzed by 25 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.

The table below offers a condensed view of their latest ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.

Analysts have recently evaluated Okta and provided 12-month price targets. The average target is $88.28, accompanied by a high estimate of $110.00 and a low estimate of $70.00. This current average has decreased by 4.74% from the previous average price target of $92.67.

Breaking Down Analyst Ratings: A Detailed Examination

A comprehensive examination of how financial experts perceive Okta is derived from latest analyst actions. The following is a detailed summary of key analysts, their latest evaluations, and adjustments to ratings and price targets.

Key Insights:

• Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to latest developments related to Okta. This information offers a snapshot of how analysts perceive the current state of the company.
• Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Okta compared to the broader market.
• Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Okta's stock. This comparison reveals trends in analysts' expectations over time.

Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Okta's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.

Stay up to date on Okta analyst ratings.

Discovering Okta: A Closer Look

Okta is a cloud-native security company that focuses on identity and access management. The San Francisco-based firm went public in 2017 and focuses on two key client stakeholder groups: workforces and customers. Okta's workforce offerings enable a company's employees to securely access its cloud-based and on-premises resources. The firm's customer offerings allow its clients' customers to securely access the client's applications.

Understanding the Numbers: Okta's Finances

Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.

Positive Revenue Trend: Examining Okta's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 21.41% as of 31 October, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.

Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -13.87%, the company showcases strong profitability and effective cost control.

Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -1.42%, the company showcases effective utilization of equity capital.

Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -0.93%, the company showcases effective utilization of assets.

Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.25.

The Significance of Analyst Ratings Explained

Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.

Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Benjamin and Chance are back from the holidays. Chance retells his experience using CarPlay and EV routing in Apple Maps, the Apple Watch is (temporarily?) back on shelves, Apple is reportedly in talks with news publishers about licensing content for its AI systems, and all signs point to an impending Vision Pro release.

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The lovely thing about a hobby like keyboard building is that the melting pot of designs manages to never turn into a nasty porridge. Rather, it remains a tasty chili that keeps getting more flavorful with time. It’s a simple recipe, really; someone becomes dissatisfied enough with their peripherals to do something about it, often trying various designs until they either settle on one, or come up with yet another awesome variant that suits their needs — and possibly someone else’s down the line.

The inimitable [Joe Scotto] has happened upon the katana layout, which has an inverse left-hand row stagger that lends symmetry to the design, and Scotto-ized it into a 33-key build that he says is the best-sounding one yet with lubed Gateron Milky Yellows.

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Everything is available on GitHub, and [Joe] promises a typing test soon, as well as a gasket version that foregoes the integrated plate.

Do you need a fast keyboard? Like, ridiculously fast? Then you should use an FPGA.

Via KBD and Make:

Okta CEO Todd McKinnon says atSpoke’s access request workflow capability will help augment the broader strategy and vision around the company’s identity governance offering, which is set to debut early next year.

Okta surreptitiously acquired early-stage workplace operations platform atSpoke last month to serve as a building block for its upcoming identity governance and administration (IGA) offering.

The San Francisco-based identity security provider said San Francisco-based atSpoke’s access request workflow capability will help augment the broader strategy and vision around Okta’s IGA platform, which is slated to debut early next year, said Co-Founder and CEO Todd McKinnon. atSpoke’s 20-person team joined Okta in early August, and the two companies have known one another for quite some time.

“We also acquired a very good smaller organization called atSpoke recently that‘s a great technology and team tuck-in into what we’re doing with IGA,” Co-Founder and COO Frederic Kerrest told investors Wednesday. “Very opportunistic…They’re just about to hit that go-to-market inflection point, so it’s a great time for us to bring them into the fold.”

[Related: Okta CEO: Microsoft’s Identity Business ‘Is Relatively Weak In The Mid-Market’]

Okta didn’t put out a press release or SEC (Securities and Exchange Commission) filing announcing the atSpoke acquisition, and the deal hadn’t received any press coverage up until now. Okta’s only public acknowledgement of the atSpoke transaction before Wednesday’s earnings call took place in an Aug. 2 blog post written by Vice President of Product Management George Kwon.

“Through its user experiences rooted in natural language interfaces and a robust platform for tasks and workflow, we are confident that atSpoke will modernize the Identity Governance experience for end users, line of business users and IT administrators alike,” Kwon wrote in the blog post. “We believe this will unlock an opportunity to make IGA products not only tolerated, but loved.”

atSpoke CEO Jay Srinivasan and CTO Pratyus Patnaik joined Okta as senior directors of product management and engineering, respectively. Terms of the acquisition weren’t disclosed, and Kwon said it wasn’t expected to have any impact on Okta’s financial guidance issued in May. atSpoke was founded in 2016 and has raised $28 million in two rounds of funding from Greylock and Accel, Crunchbase said.

“This combination will maximize the customer experience with our forces working to address critical pain points in access management, a crucial field in today’s modern workforce, through Okta’s outstanding platform,” Srinivasan said in the August blog post.

The basis for Okta’s IGA offering will be the company’s existing lifecycle management and advanced lifecycle management products, which Kerrest said were some of Okta’s top-selling products in 2020. Demand for lifecycle management was so high that Okta extended the capability earlier this year from its flagship workforce identity platform to both the Okta and Auth0 customer identity platform.

“If you‘ve got all your identity information already running in the public cloud, you’re going to want a product that’s right next to that in an adjacent suite,” Kerrest said Wednesday. “We’ve got a lot of pipeline already built up. In fact, there’s more customers asking to get early access to the product that we want to open it up for, just because we want to make sure that we get it right.”

Okta’s revenue for the quarter ended July 31 skyrocketed to $315.5 million, up 57.4 percent from $200.4 million the year prior. That crushed Seeking Alpha’s estimate of $293.2 million.

The company’s net loss worsened to $276.7 million, or $1.83 per diluted share, 360.4 percent larger than a net loss of $60.1 million, or $0.48 per diluted share, last year. On a non-GAAP basis, net loss worsened to $16.3 million, or $0.11 per diluted share, as compared with net income of $9.9 million, or $0.07 per diluted share, last year. That beat Seeking Alpha’s non-GAAP net loss estimate of $0.33 per share.

Okta’s stock is down $6.01 (2.27 percent) to $258.75 per share in after-hours trading. Earnings were announced after the market closed Wednesday.

The company’s subscription revenue in the quarter surged to $303.1 million, up 59 percent from $190.7 million the year prior. And Okta professional services revenue jumped to $12.4 million, up 26.9 percent from $9.8 million last year.

For the quarter ending Oct. 31, Okta expects non-GAAP net loss of $0.24 to $0.25 per share on revenue of $325 million to $327 million. Analysts had been expecting non-GAAP net loss of $0.33 per share on earnings of $319.2 million, according to Seeking Alpha.

‘I would call that out as a weakness for Microsoft - the smaller companies and the mid-market. Maybe it‘s because of their channel, maybe it’s I don’t know why, but they’ve tended to not show up very well in that segment,’ says Okta CEO Todd McKinnon.

Okta Co-Founder and CEO Todd McKinnon said Microsoft hasn’t shown up very well for smaller and mid-market identity customers due perhaps to their channel.

The San Francisco-based identity security provider said it was scary when Redmond, Wash.-based software giant Microsoft first launched a product in the identity space seven or eight years ago, according to McKinnon. But McKinnon said it turned out to be the best thing that ever happened to Okta since it validated the idea of identity being a primary system that organizations need to invest in.

“Microsoft is relatively weak in the mid-market for their identity business,” McKinnon told investors Wednesday. “I would call that out as a weakness for Microsoft - the smaller companies and the mid-market. Maybe it‘s because of their channel, maybe it’s I don’t know why, but they’ve tended to not show up very well in that segment.”

[Related: Okta Taps Former Insight President Steve Dodenhoff To Lead Channels]

Microsoft didn’t immediately respond to a CRN request for comment.

The competition between Okta and Microsoft in the identity space has attracted a lot of attention from investors in latest months. Between November 2020 and January 2021, analyst firm BTIG said it was hearing more commentary from partners about Microsoft’s Azure Active Directory being a viable threat to Okta around their core workforce identity capabilities, BTIG analysts wrote in a report issued Sunday.

But since mid-March, partners have been telling BTIG that they only see Azure Active Directory as a viable solution for budget-constrained customers, and that it isn’t viewed as a true enterprise-grade product for buyers focused on security.

In addition, partners told BTIG that customers who adopted Microsoft’s multi-factor authentication product last year as part of an E5 license sale are now realizing its shortcomings. As a result, these customers are looking to upgrade to solutions with better integrations like Okta, according to BTIG.

Similarly, a KeyBanc survey of partners last month found that Okta is the biggest beneficiary of identity and access management (IAM) modernization, with 54 percent of respondents citing Okta while just 27 percent cited Microsoft. Partners saw the IAM modernization scene differently three months earlier, with 42 percent of respondents selecting Okta and 42 percent selecting Microsoft as the big winner.

KeyBanc sees Okta‘s $6.5 billion acquisition of customer identity and access management player Auth0 as well as its April product announcements around identity governance and administration (IGA) and privileged access management (PAM) as significant steps toward becoming a consolidator in the IAM market. Okta’s push into IGA and PAM is expected to put pressure on legacy incumbents in both spaces.

Okta’s revenue for the quarter ended April 30 skyrocketed to $251 million, up 37 percent from $182.9 million the year prior. That crushed Seeking Alpha’s estimate of $239.1 million.

The company’s net loss worsened to $109.2 million, or $0.83 per diluted share, 89.4 percent larger than a net loss of $57.7 million, or $0.47 per diluted share, last year. On a non-GAAP basis, net loss worsened to $13 million, or $0.10 per diluted share, 74.3 percent larger than a net loss of $7.4 million, or $0.06 per diluted share, last year. That beat Seeking Alpha’s non-GAAP net loss estimate of $0.20 per share.

Okta’s stock is down $8.78 (3.56 percent) to $237.75 per share in after-hours trading. Earnings were announced after the market closed Wednesday.

The company’s subscription revenue in the quarter surged to $240.1 million, up 38.1 percent from $173.8 million the year prior. And Okta professional services revenue jumped to $10.9 million, up 20.6 percent from $9.1 million last year.

For the quarter ending July 31, Okta expects non-GAAP net loss of $0.35 to $0.36 per share on revenue of $295 million to $297 million. Analysts had been expecting non-GAAP net loss of $0.11 per share on earnings of $260.5 million, according to Seeking Alpha.

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