Okta drops after maintaining annual revenue forecast, brokerages cut PT

Okta

28/05/2025 11:45

** Cybersecurity company Okta OKTA.O drops 13.3% premarket to $108.98 after maintaining annual revenue forecast

** Co beats Q1 profit and revenue estimates, FY26 forecasts factors uncertain macroeconomic risks

** At least five brokerages cut PT - Jefferies from $135 to $130; RBC from $147 to $135; D.A. Davidson from $145 to $140; Guggenheim from $140 to $138; Mizuho from $135 to $130

** OKTA's conservative Q2 cRPO outlook misses Wall Street estimates and would mean the first quarter-to-quarter cRPO decline in co's public history - Jefferies; rates stock "hold"

** cRPO is subscription backlog that is expected to be recognized over next 12 months

        ** RBC says co well-positioned for strategic partnerships due to urgent growth in security features targeting non-human identities (NHI)

** NHI includes API keys, tokens, AI agents - Okta

** Avg rating of 45 analysts is "buy"; median PT $125

** OKTA up 59.3% YTD as of last close

 (Reporting by Twesha Dikshit)

 ((Twesha.Dikshit@thomsonreuters.com))