Oppenheimer Reaffirms Their Buy Rating on Okta (OKTA)

Oppenheimer analyst Shaul Eyal maintained a Buy rating on Okta (OKTA) today and set a price target of $140.00. The company’s shares closed last Monday at $129.05.

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 14.6% and a 62.5% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Ping Identity Holding, and CyberArk Software.

Currently, the analyst consensus on Okta is a Hold with an average price target of $140.67.

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Based on Okta’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $50.47 million. In comparison, last year the company had a GAAP net loss of $30.81 million.

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Okta, Inc. provides an enterprise-grade identity management services. Its products include single sign-on, multi factor authentication, API access management, API products and integration network services. Okta was founded by Todd McKinnon and J. Frederic Kerrest in 2009 and is headquartered in San Francisco, CA.

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