Why Okta Stock Was Plunging Today
Shares of Okta (NASDAQ: OKTA) were tumbling today after the company issued a strong second-quarter earnings report but said it was having challenges integrating Auth0, the customer identity software company it acquired last spring.
Management also called into question its long-term growth target of $4 billion in revenue by fiscal 2026 (ending January 2026), saying it was reevaluating those targets and would update investors on the next earnings call.
Altogether, that was enough to spoil an otherwise solid quarter, and the stock was down 29.6% as of 9:50 a.m. ET.
Source Fool.com
