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Okta, Inc.OO

Okta, Inc.

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Okta Shares Down 6.21% On Q1 Fiscal Year 2025 Financial ResultsOkta ( NASDAQ:OKTA ), the leading independent identity partner, has announced its financial results for the first quarter of fiscal year 2025. The company reported a 19% year-over-year increase in Q1 revenue and a 20% year-over-year increase in subscription revenue. The current remaining performance obligations (cRPO) also increased by 15% to $1.949 billion. The company's CEO, Todd McKinnon, stated that the company began the new fiscal year with record non-GAAP profitability and cash flow. The total revenue for Q1 was $617 million, an increase of 19% year-over-year. Subscription revenue was $603 million, an increase of 20% year-over-year. The RPO, or subscription backlog, was $3.364 billion, an increase of 14% year-over-year. The cRPO, or subscription backlog expected to be recognized over the next 12 months, was $1.949 billion, up 15% compared to the first quarter of fiscal 2024. GAAP operating loss was $47 million, or 8% of total revenue, compared to a GAAP operating loss of $160 million, or (31)% of total revenue, in the first quarter of fiscal 2024. Non-GAAP operating income was $133 million, or 22% of total revenue, compared to a non-GAAP operating income of $37 million, or 7% of total revenue, in the first quarter of fiscal 2024. GAAP net loss was $40 million, compared to a GAAP net loss of $119 million in the first quarter of fiscal 2024. Non-GAAP net income was $117 million, compared to a non-GAAP net income of $38 million in the first quarter of fiscal 2024. Net cash provided by operations was $219 million, or 36% of total revenue, compared to net cash provided by operations of $129 million, or 25% of total revenue, in the first quarter of fiscal 2024. Free cash flow was $214 million, or 35% of total revenue, compared to $124 million, or 24% of total revenue, in the first quarter of fiscal 2024. The company's financial outlook for Q2 is expected to be stable but challenging, with growth rates of 13% to 14% year-over-year. For the full year, the company expects total revenue of $2.530 billion to $2.540 billion, with non-GAAP operating income of $490 million to $500 million, a non-GAAP operating margin of 19% to 20%, and a non-GAAP free cash flow margin of approximately 22%. Technical Outlook Okta shares is down 6.78% as of the time of writing trading with a weak Relative Strength Index (RSI) of 30.61 which is currently oversold. Due to the "Golden Cross Pattern" on the 11th of January, NASDAQ:OKTA shares surge to local monthly highs. The daily price chart depicts a long "Bearish Harami" candle stick pattern.
NASDAQ:OKTAShort
by DEXWireNews
Okta Surges on Stellar Earnings: Riding the Cloud Identity WaveOkta Inc. ( NASDAQ:OKTA ) catapulted 28% in after-hours trading following its impressive quarterly performance, surpassing analyst estimates and raising its full-year sales forecast. The cloud identity software company's robust growth, fueled by a surge in larger enterprise customers, underscores its pivotal role in modernizing identity infrastructure and simplifying organizational processes. For the fiscal fourth quarter, Okta ( NASDAQ:OKTA ) reported a remarkable 19% revenue increase year-over-year, soaring to $605 million, outpacing analysts' expectations by a substantial margin. Adjusted earnings of 63 cents per share further solidified its position as a market leader, surpassing the consensus of 51 cents per share. Notably, Okta( NASDAQ:OKTA ) added 120 customers in the quarter with a minimum annual contract value of $100,000, reflecting strong demand and expanding market reach. "We’re pleased with the strong top-line performance, driven by strength with large customers. Organizations continue to turn to Okta to help modernize and simplify their identity infrastructure," stated the company in its earnings report, highlighting the growing reliance on its solutions among enterprises seeking enhanced security and efficiency. Looking ahead, Okta ( NASDAQ:OKTA ) provided an upbeat outlook, projecting current-quarter revenue between $603 million and $605 million, surpassing analyst estimates and indicating sustained momentum in its business operations. Additionally, the company raised its full-year revenue forecast to a range of $2.495 billion to $2.505 billion, demonstrating confidence in its ability to capitalize on market opportunities and drive sustained growth. The impressive earnings report also signifies Okta's resilience in the face of challenges, notably a significant security breach last year. Despite this setback, the company's financial performance remains robust, indicating its ability to navigate adversity and emerge stronger. Analyzing Okta's ( NASDAQ:OKTA ) share price on the weekly chart reveals a notable breakout amid earnings-driven momentum. However, potential overhead resistance zones at $108 and $145 merit close monitoring, representing key areas where the stock may encounter selling pressure based on historical price action. As Okta ( NASDAQ:OKTA ) shares surged to $107.61 in after-hours trading, investors are buoyed by the company's stellar performance and optimistic outlook. With its strategic positioning in the rapidly evolving cloud identity market and a strong foundation of enterprise customers, Okta is poised to sustain its growth trajectory and redefine the future of identity management in the digital era.
NLong
by DEXWireNews
OKTA: Confident Growth Amid Decreasing Short InterestOkta, Inc. (NASDAQ:OKTA) , a leading provider of cloud identity and access management services, attracts investors' attention with its potential for sustainable growth and a noticeable decrease in short interest volume. The reduction in short interest is a positive signal, indicating a decrease in pessimism among investors regarding the company's future prospects, which could be a harbinger of an increase in stock value. Okta continues to demonstrate strong results, thanks to its innovative platform that provides secure and convenient access to applications and services for organizations of various sizes. In a context of growing demand for cybersecurity and identity management solutions, Okta strengthens its market position by expanding its product portfolio and entering new segments. The decrease in short interest volume may indicate that investors are becoming more confident in the company's ability to overcome current challenges and realize its growth potential. It may also suggest anticipation of positive news or improvement in financial results, which could push the stock price up. Additionally, Okta invests in expanding its global infrastructure and developing technological innovations, allowing the company to maintain a high level of competitiveness and meet changing market demands. These strategic initiatives, combined with improved market perception as reflected in the decrease in short interest, create a solid foundation for long-term growth in stock value. For investors looking for opportunities in the technology sector with sustainable growth potential, OKTA shares represent an attractive option. The decrease in short interest, coupled with strong operational indicators and a strategic focus on innovations and expansion, offers positive prospects for long-term investors.
NLong
by olimchik
2
OKTA Stock Chart Fibonacci Analysis 021124Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 85/61.80% Chart time frame : D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : A A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
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by fibonacci6180
OKTA: Poised for Growth at Key Levels"?OKTA. is a leading identity and access management company that provides cloud software to help businesses manage and secure user authentication into modern applications, and for developers to build identity controls into applications, website web services, and devices. Founded in 2009, the company has been instrumental in pioneering identity solutions fit for a cloud-first, mobile-first world. As of now, Okta's stock is at crucial levels, signaling a potential breakout or pivot. The company has been posting strong earnings over the last few quarters, indicating robust operational performance and growth prospects. This positive momentum sets the stage for today's earnings announcement, which is widely anticipated to be favorable. In terms of stock targets, after surpassing the pivotal $74 mark, the next key levels to watch for are $77, followed by $79, and then $82. These target levels could serve as either resistance points or new support levels, depending on investor sentiment and market dynamics. Investors and traders are keenly watching Okta, especially given its recent performance and today's crucial earnings release. With strong fundamentals and optimistic market sentiment, Okta appears well-positioned for potential upward movement.
NLong
by DrSaud1
$OKTA - Huge ConsolidationNASDAQ:OKTA Daily: Currently rangebound with no clear direction. I'm anticipating two scenarios with respect to the 200 DMA: 1. Base on the 200 DMA, consolidate, then trend up around ER at February end. 2. Drop below 200 DMA, but rebound from range bottom. This coincides with potential market weakness in February. In both cases, I expect OKTA to test range top, with ER potentially triggering an explosive move. Bullish thesis: For the full year of 2024, Okta expects to make about $2.24 billion, which is a 21% increase from last year. I expect continued improvements in other financial metrics such as non-GAAP operating income, net income, as well as cash flow measures.
NLong
by gigavest
OKTA Options Ahead of Earnings If you haven`t sold OKTA when Losses Exceeding Expectations: Then analyzing the options chain and the chart patterns of OKTA prior to the earnings report this week, I would consider purchasing the 72usd strike price Calls with an expiration date of 2023-9-1, for a premium of approximately $4.55. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NLong
by TopgOptions
OKTA - High Long Potential - Minimalists AnalysisI'm absolutely NO fundamental analyst. I literally have no good clue how to read the fundamentals like the Pro's are doing. And I don't plan to learn it in the near future. BUT... ...I trust my common sense. The Blue Box explains my common sense thinking and why I see OCTA as a potential buy for the long term. What I know for sure are my TA skills. And what I see there is, that price respects the L-MLH of the Andrews Pitchfork. The Green Box shows the support range. If you zoom closer you see the "Trigger" bar (green) which started the up-move. The Blue Boxes are just for myself. I cut out the noise by splicing the inside bars and outside bars to one block. That makes the chart reading easier. What else do we have in the TA arsenal? The MACD and the Mansfield RS. You probably know what the MACD projects. The Mansfield Relative Strenght is not known very widely. Nonetheless it does it's job by measuring the evolution of OCTAs price compared to the SPX over an average of 52 periods by default. So, bringing it all together: If price don't drop below the Forks lower line (The L-MLH or Lower Medianline Parallel), AND both, MACD and Mansfield are positive AND the volume starts to rise furious, then my Gatling fires from all guns. §8-) Wish you all a happy weekend.
NLong
by Tr8dingN3rd
4
OKTA :Financial Position and Market PerformanceNASDAQ:OKTA In light of rising cloud services and cybersecurity demands, Okta Inc. (OKTA) has reported robust revenue growth in its recent financial statements. Despite the apparent growth, pressures and anticipations in the market have recently weighed on the company's stock. Over the past 12 months, OKTA has reported an earnings per share (EPS) of -4.29 USD, despite a revenue per share of 12.15 USD. This suggests that while the company is currently experiencing losses, the positive operating cash flow per share of 1.22 USD and a free cash flow per share of 1.10 USD highlight a healthy cash reserve post-operations and investments. However, OKTA’s high Price-to-Earnings (P/E) ratio of -16.74, Price-to-Sales (P/S) ratio of 5.94, and Price-to-Book (P/B) ratio of 2.09 suggest an elevated market valuation. On a positive note, OKTA’s Price-to-Operating-Cash-Flow (P/OCF) ratio of 59.00 and Price-to-Free-Cash-Flow (P/FCF) ratio of 65.81 demonstrate the company's robust cash generation capacity. In terms of ESG ratings, OKTA scores moderately across environmental, social, and governance dimensions, with an overall ESG score of 59. Despite surpassing revenue and earnings expectations in Q1 and an upward revision of the full-year sales growth forecast from 16-17% to 17-18%, the company's stock fell 15% over the past week, triggered by the CEO's warning and market pressures. This may be due to an overly optimistic market expectation not met by the strong, yet insufficient financial report. However, in the long run, demand for OKTA's identity management services and cybersecurity products remain strong. With the company progressively overcoming efficiency challenges impacting profits, improved performance can be anticipated. Therefore, while the stock may fluctuate in the short term, long-term investors may see the realization of its potential. In conclusion, despite current short-term market pressures, OKTA shows a strong growth potential fundamentally. When considering investing, investors should take into account the company's financial condition, market performance, and future growth expectations. Technical Analysis: From the daily chart, the overall trend remains within a steady upward channel. We should pay close attention to the 61.8% Fibonacci support level. If the price gets support on the daily chart, the rebound force can break through the resistance level at 90, allowing us to continue holding. However, if the short-term price breaks through the channel support, the market might continue to bear pressure. The current price support is critical. The RSI indicator suggests a higher likelihood of rebound, but the MACD shows an ongoing bearish crossover signal with increasing selling volume. If you have already held positions, you can monitor the support situation around $70 in the short term. If you haven't entered the market, wait for a clear channel support signal before entering.
NLong
by TradingJ888
Okta to break higher?OKTA - 30d - We look to Buy a break of 88.08 (stop at 80.89) The sequence for trading is higher highs and lows. Daily signals are bullish. A break of the recent high at 87.88 should result in a further move higher. Our outlook is bullish. This stock has seen good sales growth. Our profit targets will be 105.48 and 108.48 Resistance: 82.50 / 86.50 / 87.90 Support: 79.50 / 76.00 / 74.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NLong
by VantageMarkets
Strong Revenue Growth, Outstanding Execution!Morning*'s valuation implies 2024 EV/Sales multiple of 5.5x. Forecasted Revenue growth 24% annualized rate over next five years! TTM Rev Growth YoY was 43%; 206% above sector median! Rev FWD growth is 26% or 142% above sector median. Expected to become profitable on adjusted OpMargin basis next year and GAAP profitable in 2027 in line with current models as long as Okta continues to execute its growth strategy via investing in sales and research divisions. The purple area target is my own personal target within time frame expected based on probabilities.
NLong
by Jrussell86