OktaNASDAQ: OKTA

Okta Inc (NASDAQ:OKTA) stock is 1.9% lower ahead of the opening bell, looking to start today's session around the $77 mark on the heels of a sour analyst note.

Okta's new products focus on high-margin customers, creating upsell opportunities for existing ones, and distinguishing its technology from its peers. Partnerships with GSIs, ISVs, and MSPs are driving bigger, more profitable deals. The company posted its first-ever positive GAAP net income last quarter, with double-digit revenue and free cash flow growth, and strong liquidity ratios.

Okta's stock is approximately 31% undervalued, with strong revenue growth, positive cash flows, and a consistent share count. Okta excels in secure user authentication and identity management, competing effectively against Microsoft with superior reliability, ease of use, and integration capabilities. Despite negative EBITDA, Okta's aggressive R&D investment and declining SG&A ratio indicate the potential for improved profitability and sustained revenue growth.

The mean of analysts' price targets for Okta (OKTA) points to a 29.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Okta (OKTA) concluded the recent trading session at $74.07, signifying a +1.13% move from its prior day's close.

You may have missed it, but Okta achieved GAAP profitability for the first time in the latest quarter. Wall Street appears spooked about the potential financial impact from the cybersecurity breaches. Okta has a net cash balance sheet and its debt carries low interest rates.

OKTA is riding on an expanding clientele, driven by the strong adoption of its Identity Threat Protection solution within a challenging macroeconomic environment.

Okta (OKTA) reachead $72.15 at the closing of the latest trading day, reflecting a -0.01% change compared to its last close.

WASHINGTON--(BUSINESS WIRE)--NetHope, a catalyst for collective impact that advances humanitarian, conservation, and international development efforts worldwide, has partnered with Okta, in a groundbreaking initiative aimed at enhancing cybersecurity resilience across the nonprofit sector. This strategic partnership, underpinned by a $2.5 million commitment from Okta for Good, Okta's philanthropic arm, over five years will unlock more resources to strengthen the security posture of nonprofits.