Shrenik Kothari, an analyst from Robert W. Baird, maintained the Buy rating on Okta. The associated price target remains the same with $148.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Shrenik Kothari has given his Buy rating due to a combination of factors that highlight Okta’s robust financial performance and promising future outlook. The company reported impressive second-quarter results for fiscal year 2026, surpassing expectations in both revenue and profitability. Revenue grew by 12.7%, while the operating margin reached 27.7%, both figures exceeding consensus estimates. Additionally, Okta’s earnings per share of $0.91 also beat projections by $0.07.
Furthermore, Okta’s fiscal year 2025 guidance has been raised, indicating a positive growth trajectory with revenue expected to grow by 10.3% at the midpoint. The company also demonstrated strong customer acquisition, adding 75 net-new customers with annual contract values over $100k, and maintaining a dollar-based net retention rate of 106%. These factors, combined with a solid free cash flow margin of 22.3%, underpin Kothari’s confidence in Okta’s continued success and justify the Buy rating.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $119.00 price target.