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OKTA - Okta Inc News Story

$211.86 5.4  2.6%

Last Trade - 22/09/20

Sector
Technology
Size
Large Cap
Market Cap £20.64bn
Enterprise Value £20.03bn
Revenue £549.1m
Position in Universe 354th / 6387

BUZZ-OKTA retreats after strong quarterly report and mixed guidance

Thu 29th August, 2019 7:06pm
** Shares of OKTA Inc  OKTA.O  down >5% on Thurs after the
cybersecurity co gave a qtrly report that beat expectations and
a current-qtr EPS outlook that disappointed
    ** Late on Weds, OKTA said its sees Q3 non-GAAP share loss
between 12c and 13c, vs analysts consensus of a 9c loss, per
Refinitiv
    ** Co's qtrly results and full-year rev and EPS estimates
exceeded estimates  urn:newsml:reuters.com:*:nASB020UD
    ** OKTA up 98% YTD vs Nasdaq's  .IXIC  20% increase
    ** At least 6 analysts raised their PTs following OKTA's
report. 23 analysts cover OKTA, on avg rating it 'buy'. Median
PT is $143, which is 13% above its current price of $126.16
    ** "When you’re at the foothills of a big secular growth
story and the economy is not in recession, the best strategy is
to own at least a starter position in a stock, hang on for the
ride and fill out the position on the inevitable market-related
pullbacks," Canaccord Genuity analyst Richard Davis wrote in a
client note, raising his PT to $145 from $125

 ((noel.randewich@tr.com; Twitter handle: @randewich  (415) 677
2542; Reuters Messaging:
noel.randewich.thomsonreuters.com@reuters.net))
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