Robert W. Baird analyst Shrenik Kothari maintained a Buy rating on Okta (OKTA – Research Report) today and set a price target of $115.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors related to Okta’s strategic initiatives and financial performance. The recent restructuring plan, which involves reducing about 3% of the workforce, is aimed at reallocating resources to drive growth. This aligns with Okta’s strategic go-to-market specialization efforts, enhancing the company’s operational efficiency and focus on growth priorities.
Furthermore, Okta has reaffirmed its financial guidance for the fourth quarter of fiscal year 2025 and the entire fiscal year 2025, reflecting confidence in its ongoing operational momentum. The company’s strategic focus on segmentation and specialization in sales teams is expected to accelerate pipeline growth and improve win rates. Additionally, Okta’s prudent guidance for fiscal year 2026, alongside its strong coverage ratio and consistent revenue exceeding trends, suggests a favorable outlook for continued financial success, justifying the Buy rating.
According to TipRanks, Kothari is a top 100 analyst with an average return of 30.1% and a 79.69% success rate. Kothari covers the Technology sector, focusing on stocks such as Fortinet, Okta, and CrowdStrike Holdings.
In another report released today, Needham also maintained a Buy rating on the stock with a $115.00 price target.