4 Takeaways From Okta's Fantastic Quarter
(NASDAQ: OKTA) is winning its way back into Wall Street's good graces. Shares jumped over 20% immediately following the cybersecurity specialist's fourth-quarter earnings report. Okta stock is up 50% in the past full year, nearly doubling the return in the rallying S 500 over that time.
Let's dive right into the report for the biggest takeaways on Okta's operating momentum.
The good times are rolling for software-infrastructure businesses that cater to large customers, and Okta is capitalizing on the surge. Reported sales were up 19%, and its subscription-based revenue jumped 20%, primarily reflecting higher demand from enterprises looking to bulk up their digital-identity management abilities. "Organizations continue to turn to Okta to help modernize and simplify their identity infrastructure," CEO Todd McKinnon said in a press release .
Source Fool.com
Okta Inc. Stock
With 30 Buy predictions and not a single Sell prediction Okta Inc. is an absolute favorite of our community.
With a target price of 92 € there is a slightly positive potential of 5.91% for Okta Inc. compared to the current price of 86.87 €.
