Okta Stock Intrinsic Value – DA Davidson Increases FY2024 EPS Estimates for Okta, Inc
June 23, 2023
🌥️Trending News
DA Davidson analysts have recently released a report revising their FY2024 EPS estimates for Okta ($NASDAQ:OKTA), Inc. Okta is a leading independent provider of identity for the enterprise, offering secure access to applications on any device, anywhere, anytime. Through its cloud-based platform, Okta simplifies and secures employee and customer identities across applications and devices. With its identity management platform, Okta helps enterprises increase security, reduce IT costs, and accelerate growth. The revised FY2024 EPS estimates for Okta, Inc. reflect the solid growth of the company as a result of increased demand for its identity management solutions across industries.
The updated EPS estimates for Okta, Inc., along with the analysts’ increased price target, show that the company is well-positioned to continue to grow in the long term and remain a leader in the identity management space. This news is likely to be well-received by investors as it suggests greater potential for Okta’s stock to continue to rise over the coming years.
Price History
DA Davidson analysts recently raised their FY2024 earnings per share estimates for Okta, Inc, the leading independent provider of identity and mobility management. On Monday, OKTA stock opened at $73.5 and closed at $72.0, a decrease of 2.5% from its previous closing price of 73.8. This marks the second time in less than a month that DA Davidson has increased its earnings per share estimates for the company.
Analysts cited positive developments in the business and strong customer momentum as reasons for the revised estimates. The new estimates have generated optimism among investors, who believe that increased earnings per share could drive increased stock price appreciation. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Okta. okta&utm_title=DA_Davidson_Increases_FY2024_EPS_Estimates_for_Okta_Inc”>More…
| Total Revenues | Net Income | Net Margin |
| 1.96k | -691 | -35.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Okta. okta&utm_title=DA_Davidson_Increases_FY2024_EPS_Estimates_for_Okta_Inc”>More…
| Operations | Investing | Financing |
| 196 | 17 | -283 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Okta. okta&utm_title=DA_Davidson_Increases_FY2024_EPS_Estimates_for_Okta_Inc”>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.9k | 3.37k | 34.09 |
Key Ratios Snapshot
Some of the financial key ratios for Okta are shown below. okta&utm_title=DA_Davidson_Increases_FY2024_EPS_Estimates_for_Okta_Inc”>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 45.0% | – | -33.9% |
| FCF Margin | ROE | ROA |
| 9.0% | -7.5% | -4.7% |
Analysis – Okta Stock Intrinsic Value
GoodWhale recently analyzed the fundamentals of OKTA and the results are encouraging. We have assessed the intrinsic value of OKTA’s share to be around $273.8, using our proprietary Valuation Line. This means that the current market price of OKTA at $72.0 is undervalued by 73.7%. This presents a great opportunity for investors to acquire a piece of the success of one of the fastest-growing SaaS companies in the market. With a strong balance sheet and healthy cash flow, OKTA is well positioned to capitalize on the opportunities that will arise in the coming months. We look forward to seeing how the stock performs in the near future. More…
Peers
Its competitors include Ping Identity Holding Corp, Zscaler Inc, and CrowdStrike Holdings Inc.
– Ping Identity Holding Corp ($NASDAQ:ZS)
Zscaler Inc is a cloud-based information security company that provides internet security, web security, next-generation firewalls, sandboxing, and zero-day protection. It has a market cap of 22.04B as of 2022 and a ROE of -37.32%. The company was founded in 2007 and is headquartered in San Jose, California.
– Zscaler Inc ($NASDAQ:CRWD)
CrowdStrike Holdings Inc is a cybersecurity technology company. The company provides software and services to protect against cyber threats. CrowdStrike Holdings Inc has a market cap of 37.62B as of 2022, a Return on Equity of -6.41%. The company’s products and services are used by organizations worldwide, including Fortune 500 companies, government agencies, and small businesses.
Summary
Analysts at DA Davidson recently released an investing analysis on Okta, Inc., a provider of cloud-based identity and access management solutions. The report reiterated the strong fundamentals and long-term growth potential of the company, raising their FY2024 EPS estimates. Looking into the future, analysts remain confident in the potential for Okta to continue driving strong revenue growth via further penetration into the enterprise and mid-market segments. Going forward, analysts are optimistic that Okta’s strong market positioning, product lineup, and innovation capabilities will help drive sustained growth and value generation for shareholders.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
