Why Okta Stock Cratered Thursday Morning
Shares of (NASDAQ: OKTA) tumbled out of the gate Thursday, losing as much as 22.8%. As of 11:34 a.m. ET, the stock was still down 20.3%.
The catalyst that sent the cybersecurity specialist lower was its quarterly earnings results, which were something of a mixed bag.
For its fiscal 2024 first quarter, Okta generated revenue of $518 million, up 25% year over year, fueled by subscription revenue, which grew 26%. The company's focus on costs helped boost its bottom line, as it swung from a loss to a profit, with adjusted diluted earnings per share (EPS) of $0.22.
Source Fool.com
Okta Inc. Aktie
130,00 €
1,37 %
Die Community sieht Okta Inc. positiv: Viel mehr Buy- als Sell-Einschätzungen.
Das niedrigere Kursziel von 120 € im Vergleich zum aktuellen Kurs von 130.0 € für Okta Inc. führt zu einem negativen Potenzial von -7.69%.
