William Blair analyst Jonathan Ho left Okta's analyst day "incrementally more positive on the story" saying the company appears to have a more durable growth opportunity than he had anticipated. By committing to at least 30% growth over the next five years, Ho sees Okta scaling to become a significantly larger business with the opportunity to continue exceeding expectations. Management's tone was bullish when setting a medium-term growth target of delivering at least 30% or better revenue growth over the next five years while also delivering operating leverage to achieve a pro forma operating margin range of 16% to 19%, Ho tells investors in a research note. He keeps an Outperform rating on Okta shares.