William Blair analyst Jonathan Ho has maintained their bullish stance on OKTA stock, giving a Buy rating today.
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Jonathan Ho has given his Buy rating due to a combination of factors that highlight Okta’s strong performance and future potential. Okta reported impressive quarterly results, surpassing both the firm’s and market expectations, with a notable 13% growth in current remaining performance obligations (cRPO). This growth indicates that the company’s strategic focus on sales specialization and new product development is beginning to yield positive results.
Furthermore, Okta’s management expressed optimism about the company’s future, emphasizing improved sales productivity and increased demand for their new agentic AI offerings. The decision to boost investments and expand hiring reflects Okta’s confidence in its strategic initiatives, particularly in the burgeoning agentic AI identity insurance market. While this market is still developing, Okta is well-positioned to capture significant market share as enterprises seek to integrate their identity solutions. Overall, Jonathan Ho’s Buy rating reflects a belief in Okta’s potential for growth and its strategic positioning in emerging markets.
According to TipRanks, Ho is a 3-star analyst with an average return of 3.5% and a 41.77% success rate. Ho covers the Technology sector, focusing on stocks such as Cellebrite DI, Allot, and Palo Alto Networks.
In another report released today, Needham also maintained a Buy rating on the stock with a $110.00 price target.