From Financial Modeling Prep: 2024-12-16 11:46:00

Okta (NASDAQ:OKTA) shares surged over 2% today after receiving an upgrade from JPMorgan analysts to Overweight with a $100 price target, indicating a 22% upside. The company reset its fiscal 2026 revenue expectations at 7%, highlighting its strategic position in Identity Access Management (IAM) solutions.

Recent metrics showed Okta’s cRPO grew 12.7% YoY and bookings accelerated to 30%, signaling market traction. Profitability guidance exceeded expectations, with a forecasted operating margin of 22% and FCF margin of 24% for the next fiscal year, making the stock an attractive investment at 17.0x EV/FCF.

Key growth drivers for Okta included enterprise adoption, cross-selling opportunities, and international expansion. Strategic investments were paying off, paving the way for improved top-line growth and potential multiple expansion as identity security becomes a business priority.



Read more at Financial Modeling Prep:: Okta Upgraded at JPMorgan, Shares Gain 2%