The "standout" from Okta's analyst day was comments that management expects to grow revenue in excess of 30% for the next five years, and to grow operating leverage over that timeframe to achieve operating margins in the 16%-19% range and free cash flow margins of 20%-25%, JPMorgan analyst Sterling Auty tells investors in a research note titled "Management 5 Year Model Shows Impressive Margin Improvement." The commentary about 30% plus growth for each of the next five years is not new, but setting forth targets for margins in fiscal 2024 is a new step, the analyst points out. He believes this will likely be positively received by investors. Auty, who notes the stock is off 20% from recent highs, still thinks Okta represents one of the best positioned companies in his coverage universe. He keeps an Overweight rating on the shares with an $88 price target.