Last Updated: 17 Sep 2024
Executive Summary
Okta Inc. (OKTA) is a leading provider of identity and access management (IAM) solutions. The company's cloud-based platform enables organizations to manage user access to applications and data securely and efficiently. Okta has a strong track record of growth, with revenue increasing by 16.2% year-over-year in the latest quarter. However, the company is currently unprofitable, with an EBITDA margin of -5.55%.
Company Overview
Okta was founded in 2009 and is headquartered in San Francisco, California. The company's mission is to "make it easy for people to access the applications and data they need, securely and efficiently." Okta's platform is used by over 15,000 organizations worldwide, including some of the world's largest companies.
Fundamental Analysis
Okta's financial performance has been mixed in recent quarters. Revenue has grown steadily, but the company has yet to achieve profitability. In the latest quarter, Okta reported a net loss of $81 million on revenue of $245 million. The company's EBITDA margin was -5.55%.
Okta's balance sheet is strong, with $1.2 billion in cash and equivalents and no debt. The company's free cash flow was $101 million in the latest quarter.
Technical Analysis
Okta's stock price has been volatile in recent months, trading between a 52-week high of $114.5 and a 52-week low of $65.04. The stock is currently trading at $74.03.
The technical indicators are mixed. The 50-day moving average is above the 200-day moving average, which is a bullish sign. However, the relative strength index (RSI) is below 50, which is a bearish sign.
Short Term Outlook
In the short term, Okta's stock price is likely to be volatile. The company is expected to report its next quarterly results in November. If the results are positive, the stock price could rise. However, if the results are negative, the stock price could fall.
Long Term Outlook
In the long term, Okta has a bright future. The company is a leader in the growing IAM market. The company's platform is well-positioned to benefit from the increasing demand for secure and efficient identity management solutions.
Analyst Recommendations
Analysts are generally bullish on Okta. The consensus analyst rating is "Buy." The average analyst target price is $107.12.
