Okta (OKTA) Stock Price: $165 Target And Outperform Rating

By Amit Chowdhry ● Jun 12, 2022
  • The shares of Okta Inc (NASDAQ: OKTA) have received a $165 price target from JMP Securities. These are the details.

The shares of Okta Inc (NASDAQ: OKTA) have received a $165 price target from JMP Securities. And JMP Securities analyst Trevor Walsh is maintaining an “Outperform” rating on the shares.

Walsh adjusted the rating to reflect multiple compression across the sector and macro volatility. But Walsh is maintaining the “Outperform” rating on the shares after the first-quarter earnings beat.

Plus Walsh noted that the company’s first-quarter revenue growth accelerated by 200bps, its cRPO growth of 57% year-over-year displayed strength, and billings grew 7% year-over-year.

Plus Okta is showing resilience in overcoming the pressures from March’s security incident. But the guidance also suggests an improving top line.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.