InvestorNewsBreaks – Okta Inc. (NASDAQ: OKTA) Featured in Simply Wall St Journal

June 10, 2021 14:06:06

Okta (NASDAQ: OKTA), a software-as-a-service (“SaaS”) business that provides an identity management platform for enterprises, small- and medium-sized businesses, government and other organizations, was featured in this week’s Simply Wall St Journal. The piece covers Okta’s recent acquisition of a similar identify management platform — Auth0 — and what analysts are now expecting in terms of Okta’s top and bottom line. “The analysts are definitely expecting Okta’s growth to accelerate, with the forecast 50% annualized growth to the end of 2022 ranking favorably alongside historical growth of 37% per annum over the past three years. Compare this with other companies in the same industry, which are forecast to grow their revenue 15% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Okta to grow faster than the wider industry,” the publication reads. “The most important thing to note is the forecast of increased losses next year, suggesting all may not be well at Okta. Happily, they also upgraded their revenue estimates, and are forecasting revenues to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.”

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About Okta Inc.

Okta is the leading independent identity provider. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organizations everywhere, giving them the confidence to reach their full potential. More than 10,650 organizations, including JetBlue, Nordstrom, Siemens, Slack, T-Mobile, Takeda, Teach for America, and Twilio, trust Okta to help protect the identities of their workforces and customers. For more information, visit https://Investor.Okta.com.

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