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.
Here’s why Okta stock is down on the offering. Related to the notes offering, Okta is entering into capped call transactions with institutional investors, a common maneuver intended to mitigate potential dilution should the notes ultimately convert into more shares.
Then, what happened to Okta stock after the earnings report?
Shares of Okta (NASDAQ: OKTA) stock, the cloud-based cybersecurity company, crashed today despite beating expectations in its earnings report last night — down 10% as of 11:20 a., and m.
19 Wall Street analysts have issued 1-year target prices for Okta’s shares. Their forecasts range from $73.00 to $168.00. On average, they expect Okta’s share price to reach $132.22 in the next year. This suggests a possible upside of 30.7% from the stock’s current price .
Is Okta (Okta) a great cybersecurity stock to buy in 2022?
Okta (OKTA) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
Is Okta (Okta) still growing?
The adjustments made by the two analysts are only the latest ones following Okta’s reporting of its fourth quarter of fiscal 2022 on Wednesday. The company is still growing robustly, with a 64% year-over-year improvement in revenue.
Is Okta a good company?
The company was founded by Todd Mc. Kinnon and J. Frederic Kerrest in 2009 and is headquartered in San Francisco, CA. Okta has received a consensus rating of Buy.
Will Okta’S Q4 2022 results be worse than Wall Street predicted?
And the news gets worse. As regards fiscal Q4 2022, at least you can still say the company did better than expected. As investors turn their attention to fiscal 2023, however, it appears Okta will do considerably worse than Wall Street was predicting.