Why Okta Stock Dropped This Week
(NASDAQ: OKTA) investors had a rough week as their stock declined 15% through Thursday trading compared to a 0.4% increase in the S 500. That drop wasn't enough to derail returns for the wider year, though, as shares remain higher by 9% in 2023, according to data provided by S&P Global Intelligence.
The weekly decline came after the cybersecurity specialist reported strong operating results that still left Wall Street wanting more.
Okta announced on Wednesday that sales increased 25% for the Q1 period that ran through late April. This expansion rate beat the high end of the guidance range that executives had issued back in early March and reflected strong demand among enterprises for its identity management services.
Source Fool.com
Okta Inc. Stock
€123.02
0.340%
The stock is one of the favorites of our community with 85 Buy predictions and 3 Sell predictions.
However, we have a potential of -3.27% for Okta Inc. as the target price of 119 € is below the current price of 123.02 €.
