Quick Summary:
- Okta's stock dropped 10% post Q1 earnings despite exceeding expectations.
- Fiscal projections for the year remain unchanged.
- Analysts weigh in with varied price estimates and an "Outperform" rating.
Okta Stock Reaction to Q1 Earnings
Despite posting better-than-expected results for fiscal Q1, Okta Inc. (NASDAQ: OKTA) experienced a sharp 10% decline in share value during after-hours trading. The identity management company reported an adjusted earnings per share of $0.86, alongside a 12% surge in revenue to $688 million, both numbers surpassing analyst projections. However, Okta chose to uphold its full-year guidance, a decision that seemingly rattled some investors.
Wall Street Analysts' Perspectives
Wall Street analysts have provided their outlook for Okta Inc. (OKTA, Financial), with 38 experts offering a one-year average price target of $121.69. The projections include a high of $155.00 and a low of $75.00. Given the current trading price of $125.50, the average target suggests a potential downside of 3.04%. For deeper insights, visit the Okta Inc (OKTA) Forecast page.
The consensus among 45 brokerage firms is an average recommendation score of 2.2 for Okta, placing it in the "Outperform" category. This rating uses a scale where 1 indicates a Strong Buy and 5 signifies a Sell, underscoring the mixed sentiments among analysts.
GuruFocus Metrics and Fair Value
According to GuruFocus, the estimated GF Value of Okta over the next year is $97.80, foreseeing a possible downside of 22.07% from the current market price of $125.50. The GF Value is GuruFocus’ fair value estimate, grounded in the historical trading multiples and anticipated business growth. More comprehensive data is available on the Okta Inc (OKTA, Financial) Summary page.
Investors should watch closely to see if Okta can deliver on its projections and navigate the competitive landscape effectively, as these factors will significantly impact its stock trajectory.
