OKTA is having their Octane19 conference, and the market seams to like it.
You can watch the live stream of the conference here.
https://www.okta.com/oktane19/
They have been announcing a bunch of new things.
Jim
15 Likes
OKTA also got an upgraded PT to $95 this morning by Moness and Crespi. They feel a premium valuation is justified for industry leading growth.
Rob
1 Like
There’s been a bunch of positive reviews from analysts:
"Canaccord Genuity maintains a Buy rating on Okta (NASDAQ:OKTA) and raises its PT from $85 to $95 after the analyst day event.
The firm says it continues “to construct a realistic scenario in which OKTA delivers a multi-year run of double-digit returns” but sees the stock’s valuation “at the high end of a reasonable range” even on “stretch assumptions.”
More action: Goldman Sachs reiterates a Buy rating and $94 PT saying that “Okta’s competitive advantage remains years ahead of the competition.”"
I have to say, I see a lot of confirmation bias on this board regarding analysts.
If the stock gets a PT raise: it’s all great, analyst xyz loves the company and knows what they are doing.
If a stock this board follows gets a downgrade or price target drop: don’t pay attention to the analysts, they don’t know what they are talking about.
Personally, I don’t pay attention either way. I think there are a lot of games going on.
Jim
(the board as a whole, not speaking individually)
49 Likes
I am very impressed with OKTA’s competency.
Now they have a recap page with everything announced at Oktane.
https://www.okta.com/resources/oktane19-recap/
Jim
8 Likes