Okta Posts Strong Q2 Upside, But Some Analysts Cut Forecasts: 'Not Firing On All Cylinders'
Portfolio Pulse from Priya Nigam
Okta reported strong Q2 results, beating revenue and earnings expectations. However, analysts have mixed reactions, with some cutting price targets due to concerns over decelerating growth in subscription revenue and cRPO. Despite positive execution in enterprise deals, Okta's shares fell 16.51% amid concerns about future growth.
August 29, 2024 | 4:00 pm
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Okta's Q2 results exceeded expectations, but concerns over decelerating subscription revenue and cRPO growth led to mixed analyst reactions and a 16.51% drop in share price.
Despite strong Q2 results, Okta's decelerating growth in subscription revenue and cRPO led to mixed analyst ratings and price target adjustments. The market reacted negatively, with shares dropping 16.51%. This indicates a short-term negative impact on Okta's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100