Okta (OKTA) Stock: Could It Hit $150?

By Amit Chowdhry ● May 20, 2022
  • The shares of Okta, Inc (NASDAQ: OKTA) have received a price target of $150 from Morgan Stanley. Could it hit $150? 

The shares of Okta, Inc (NASDAQ: OKTA) have received a price target of $150 from Morgan Stanley. And Morgan Stanley analyst Keith Weiss is maintaining an “Overweight” rating on the shares.

Weiss adjusted the ratings on the company ahead of the first-quarter fiscal year 2023 results. Okta will release its financial results for the first-quarter fiscal year 2023 ended April 30, 2022, after the U.S. market close on Thursday, June 2, 2022. 

In the previous quarter

Okta reported a Q4 EPS of ($0.18), which was $0.06 higher than analyst estimates of ($0.24). And the revenue for the quarter was $383 million compared to the consensus estimate of $359.79 million. For this quarter, Okta is expecting a Q1 2023 EPS of ($0.35)-($0.34), compared to a consensus of ($0.20). And Okta is expecting Q1 2023 revenue of between $388 million and $390 million, compared to a consensus of $374.85 million.

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