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Fly News Breaks for December 6, 2018
OKTA
Dec 6, 2018 | 07:42 EDT
Berenberg analyst Alexander Frankiewicz reiterates a Buy rating on Okta with a $73 price target saying the company last night "beat across all metrics and sustained impressive growth on all fronts." The analyst keeps Okta as his top pick in the space. Fiscal 2020 guidance given on the call was for revenue of $510M to $520M, which implies growth of 30% to 33%, Frankiewicz tells investors in a research note. He currently estimates growth of 32% and notes that management tends to guide conservatively.
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