|Over a week ago|
Okta price target raised to $316 from $280 at KeyBanc » 06:4604/2304/23/21
KeyBanc analyst Michael…
KeyBanc analyst Michael Turits raised the firm's price target on Okta to $316 from $280 and keeps an Overweight rating on the shares. The firm's 1Q21 IT VAR Survey shows a healthy start to 2021 with 58% of respondents meeting or exceeding 1Q21 revenue targets and 81% expecting sequential revenue growth for Q2 vs. 12% as of the year-ago quarter, Turits tells investors in a research note.
Fly Intel: Top five analyst initiations » 09:5204/2204/22/21
DRIO, OKTA, PINS, POWW, NOVN
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. DarioHealth (DRIO) initiated with an Outperform at Cowen. 2. Okta (OKTA) initiated with an Outperform at Raymond James. 3. Pinterest (PINS) initiated with a Buy at LightShed Partners. 4. AMMO (POWW) initiated with a Buy at Lake Street. 5. Novan (NOVN) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Okta initiated with an Outperform at Raymond James » 07:3004/2204/22/21
Raymond James analyst…
Raymond James analyst Adam Tindle initiated coverage of Okta (OKTA) with an Outperform rating and $300 price target. While Tindle has a positive long-term view, he notes challenging near-term trading dynamics as sentiment is very positive, the analyst tells investors in a research note. Tindle believes investors should bear with Okta during this investment period, noting many similarities to Salesforce.com's (CRM) rise from a $10B-$15B company after the first decade of founding to a $200B company today.
Okta initiated with an Outperform at Raymond James » 16:0504/2104/21/21
Raymond James analyst…
Raymond James analyst Adam Tindle initiated coverage of Okta with an Outperform rating and $300 price target.
|Over a month ago|
Fly Intel: Top five analyst upgrades » 09:5404/0904/09/21
PM, CCL, OKTA, SCHW, HOG
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Philip Morris (PM) upgraded to Overweight from Neutral at JPMorgan with analyst Jared Dinges saying heated tobacco products are an integral part of the global nicotine industry's future. 2. Carnival (CCL) upgraded to Outperform from Neutral at Credit Suisse with analyst Benjamin Chaiken saying it looks "increasingly likely" that a mid- to late-summer restart for cruises is "reasonable." 3. Okta (OKTA) upgraded to Buy from Neutral at BTIG with analyst Gray Powell saying recent field checks indicate demand trends in the broader identity market should improve in 2021 from 2020, due mainly to strength in customer identity initiatives. 4. Charles Schwab (SCHW) upgraded to Outperform from Market Perform at JMP Securities with analyst Devin Ryan saying with the uplift in interest rates and continuing momentum in the retail brokerage names, the overall trade in this area is earlier into its development, and Schwab should exhibit some of the strongest earnings growth in the capital markets over the next three years. 5. Harley-Davidson (HOG) upgraded to Buy from Neutral at Northcoast with analyst Brandon Rolle saying that the company is poised to beat FY21 earnings expectations even though Q1 earnings are likely to be impacted by shipping challenges. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Okta upgraded to Buy from Neutral at BTIG » 05:3204/0904/09/21
BTIG analyst Gray Powell…
BTIG analyst Gray Powell upgraded Okta (OKTA) to Buy from Neutral with a $280 price target. Recent field checks indicate demand trends in the broader identity market should improve in 2021 from 2020, due mainly to strength in customer identity initiatives, Powell tells investors in a research note. In addition, feedback on Okta's Auth0 acquisition was positive, says the analyst. Powell came away from recent discussions less concerned on the competitive threat from Microsoft (MSFT) and now has a higher degree of confidence in forecasts for Okta. The Street is currently estimating 30% year-over-year billings growth for Okta in fiscal 2022, and in an upside scenario, the company could grow at a high 30% pace, says Powell.
Cantor Fitzgerald technology analysts hold an analyst/industry conference call » 09:1704/0804/08/21
FTNT, PFPT, SAIL, CHKP, VRNS, RPD, TENB, CRWD, SPLK, OKTA, ZS, PANW
Technology Analysts Harrington & Martos, along with Joe Hlavin, Director of Sales at N2grate, provide an update on Security Channel trends on an Analyst/Industry conference call to be held on April 8 at 11 am.
Okta's user conference highlighted by IGA and PAM solutions, says DA Davidson » 08:1604/0804/08/21
DA Davidson analyst…
DA Davidson analyst Andrew Nowinski keeps his Buy rating and $280 price target on Okta after the company's annual user conference and investor session. The event was highlighted by Okta two new solutions in the Privileged Access Management, or PAM, and Identity Governance and Administration, or IGA, markets, the analyst tells investors in a research note, adding that the company offers the most comprehensive identity platform in the market that is capable of supporting 30% or more growth for the foreseeable future.
Okta announcements validate CyberArk, SailPoint opportunity, says Morgan Stanley » 07:3604/0804/08/21
SAIL, OKTA, CYBR
Morgan Stanley analyst…
Morgan Stanley analyst Hamza Fodderwala said Okta's (OKTA) analyst day and user conference yesterday "largely centered" on the company's expansion into adjacent markets within the broader Identity and Access Management, or IAM, market, which may have been the cause of some selling pressure on CyberArk (CYBR) and SailPoint (SAIL). However, in Fodderwala's view, Okta's announcements validate "a much larger opportunity" in IAM and the analyst doesn't see a meaningful uptick in competition in the near-term. The Identity Governance and PAM markets remain largely under-penetrated and underpin Fodderwala's positive view on both CyberArk and SailPoint, added the analyst, who has Overweight ratings on both stocks.
Okta well positioned for long-term growth, says Mizuho » 06:4004/0804/08/21
Okta is meaningfully…
Okta is meaningfully expanding into the tangential privileged access management and governance markets, Mizuho analyst Gregg Moskowitz tells investors in a research note following the company's virtual investor event. Combined with the impending Auth0 acquisition, Okta has outlined a "very ambitious strategy," says the analyst. Moskowitz notes that management effectively reiterated its organic revenue forecasts through fiscal 2024 while providing a better than expected over 35% annual revenue growth target including Auth0. Moskowitz remains bullish on Okta's fundamentals, but wants to see some evidence of strong execution inclusive of Auth0. He reiterates a Neutral rating on the shares with a $255 price target.