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.
19 brokerages have issued 1 year target prices for Okta’s shares. Their forecasts range from $230.00 to $316.00. On average, they anticipate Okta’s stock price to reach $271.35 in the next year. This suggests a possible upside of 11.9% from the stock’s current price .
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.
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.
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.”.
While I was researching we ran into the question “Is Okta the right choice for your business?”.
We should dig in. 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.
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.