Roth Capital has begun coverage on Okta (OKTA, Financial), assigning a Buy rating and setting a price target of $119. The firm recognizes Okta as a prominent player in the identity sector, offering solutions in Identity and Access Management, Identity Governance and Administration, as well as Privileged Access Management.
Okta had previously faced challenges that included sales execution difficulties and security incidents, which affected its growth trajectory. However, Roth Capital's analyst indicates that the effects of these obstacles are diminishing. As these pressures ease, the firm anticipates a renewed momentum for Okta in the market, supporting their optimistic outlook.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 35 analysts, the average target price for Okta Inc (OKTA, Financial) is $116.21 with a high estimate of $135.00 and a low estimate of $75.00. The average target implies an upside of 23.19% from the current price of $94.33. More detailed estimate data can be found on the Okta Inc (OKTA) Forecast page.
Based on the consensus recommendation from 43 brokerage firms, Okta Inc's (OKTA, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Okta Inc (OKTA, Financial) in one year is $97.04, suggesting a upside of 2.87% from the current price of $94.33. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Okta Inc (OKTA) Summary page.
