Deep Dive Into Okta Stock: Analyst Perspectives (18 Ratings)
Portfolio Pulse from Benzinga Insights
Recent analyst evaluations of Okta (NASDAQ:OKTA) show a mix of bullish and bearish perspectives with 18 analysts offering their ratings. The average 12-month price target is $85.67, reflecting a 1.81% increase from the previous target of $84.15. Analyst actions include both upgrades and downgrades, with price targets ranging from $70.00 to $110.00. Okta, a cloud-native security company, has shown impressive revenue growth and financial performance, despite lagging behind industry peers in revenue growth rate.
February 26, 2024 | 1:01 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Okta has received mixed analyst ratings with an updated average 12-month price target of $85.67. The company's financial performance and market position are strong, despite some challenges in revenue growth compared to industry peers.
The mixed analyst ratings with both upgrades and downgrades reflect uncertainty about Okta's future performance. The slight increase in the average price target suggests a cautiously optimistic outlook. However, the company's strong financial metrics, such as net margin and ROE, alongside its strategic position in the cloud security market, provide a solid foundation. The lag in revenue growth compared to peers might raise concerns, but Okta's overall market position and financial health suggest a neutral short-term impact on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100