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OKTA - Okta Inc News Story

$220.29 -3.3  -1.5%

Last Trade - 2:45pm

Sector
Technology
Size
Large Cap
Market Cap £21.25bn
Enterprise Value £20.87bn
Revenue £490.9m
Position in Universe 344th / 6368

BUZZ-Okta: Falls as BTIG downgrades on potential slowdown in billings growth

Tue 30th June, 2020 1:53pm
** Shares of cloud software provider Okta  OKTA.O  fall 2.5%
to $194.90 premarket - set to continue third straight session in
red, if losses hold
    ** BTIG lowers rating to "neutral" from "buy", says 
customer identity deals have temporarily slowed
    ** Adds that with billings growth likely to decelerate from
a 40%+ pace in recent quarters to something in the low 30's,
investors will increasingly question the stock's valuation
    ** Brokerage says slowing growth over the next few quarters
is more related to macro headwinds than any company-specific
issues
    ** Current avg rating of 22 analysts is "buy"; their median
PT is $200, up ~5% from a month ago
    ** YTD, stock has risen nearly 73%

 (Reporting by Ayanti Bera in Bengaluru)
 ((Ayanti.Bera@thomsonreuters.com; 646 223 8780 - 3401;))
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