OKTA - Okta, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
-4.00 (-3.20%)
At close: 4:00PM EDT

121.02 +0.02 (0.02%)
After hours: 7:11PM EDT

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Previous Close125.00
Bid121.00 x 800
Ask121.37 x 800
Day's Range120.31 - 125.86
52 Week Range41.88 - 136.61
Avg. Volume2,349,521
Market Cap13.811B
Beta (3Y Monthly)1.06
PE Ratio (TTM)N/A
EPS (TTM)-1.38
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est113.94
Trade prices are not sourced from all markets
  • Okta Management Talks International Momentum, Headcount Growth, and More
    Motley Fool3 days ago

    Okta Management Talks International Momentum, Headcount Growth, and More

    Here are three must-see quotes from Okta's earnings call.

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    Does "Freedom Weighting" Make a Better EM ETF?

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  • Slack Poised to Join Cloud Valuations Soaring Into Thin Air
    Bloomberg6 days ago

    Slack Poised to Join Cloud Valuations Soaring Into Thin Air

    (Bloomberg Opinion) -- Slack Technologies Inc. couldn’t have picked a better time to go public. Investors have lost their minds about software companies.Earlier this year, I wrote about how stock buyers were willing to pay handsomely to own shares of fast-growing companies that sell cloud software to businesses. As investors had grown antsy about the FAANGs — the elite technology superpowers such as Apple Inc. and Google parent company Alphabet Inc. —  the software PUTIN stocks, as I semi-apologetically called them,(1)were ascendant. Since then, investors have warmly greeted new stock listings by even more business software firms including Zoom Video Communications Inc., Pagerduty Inc. and CrowdStrike Holdings Inc.I went back to my self-selected cohort of 17 business software firms that included Salesforce, Adobe, Atlassian and ServiceNow. The median stock multiple of my cohort, which I had to adjust slightly because of acquisitions, didn’t budge much since the February analysis.The median market value adjusted for cash and debt was about 10.3 times a blend of revenue estimated in the next year, compared with 9.8 times in February. The price-to-earnings multiple of the S&P 500 index has also increased since then.(5) What really stood out was the top-tier companies in my PUTIN index have grown even more bubbly.Look behind the velvet rope to find the 20x Club, the most popular hot spot in stock markets. More than half a dozen software firms now have enterprise values that are more than 20 times expected revenue in the next year, according to Bloomberg data.That is — to put it mildly — not normal. Relative to revenue, buying a share of pharmaceutical software firm Veeva Systems Inc., a member of the 20x Club, is four times the price of Alphabet, one of the dominant companies of this generation. Some of the members of the 20x Club are newly public, and it’s not unusual to see young companies with stock market values that are a bit out of whack. But 20x Club members also include Veeva, Atlassian Corp., Okta Inc., MongoDB and other companies that have been public for 18 months or more. As corporate-messaging service Slack plans to list its shares Thursday in a not-IPO,(2)it may join this elite crew. A valuation for Slack of $17 billion or so would work out to an enterprise value to forward revenue in the ballpark of the 20x Club.There are understandable reasons these business software firms, which are relatively unknown by normal humans, have become darlings of the stock market and technology investing. Something real and seemingly permanent is changing in how companies large and small buy technology. Companies are desperate to modernize their technology so they don’t get left behind and can take advantage of growth opportunities, and that has made them open their wallets to buy new types of internet-friendly, easy-to-use software that promises to help make their marketing spending more efficient, catch cyberattacks before they cripple systems or enable seamless communications among far-flung employees.I’m not yet convinced that these young cloud software companies can ever grow as large as their investors believe, particularly if an economic downturn forces companies to rationalize their technology budgets. But software truly is eating the world, and that has accrued to the benefit of both titans such as Microsoft and relative newcomers like the members of the 20x Club.At the same time, investors are desperate for growth, and business software firms are delivering it in spades. They can also be relatively easy to understand — they sell software in exchange for cash — and businesses have proved to be relatively reliable consumers, unlike people and their tendency to flit from one hot internet thing to the next. And now that superstar tech companies have run into regulatory problems, been hit with tariffs or otherwise have more question marks than before, a bet on a company selling software that an antitrust lawyer would never notice suddenly looks like a good idea. The question is what that promise costs. As stock buyers pay more relative to a company’s revenue, any wobble in growth can result in a crash, and investors’ room for error narrows when stock prices are already high relative to a company’s financial prospects. High stock valuations may also deter some needed consolidation in business software. It has become fashionable not to care about valuation, but there can be a high price to bubbles in share prices. Of course, I could have called a bubble in business software stocks at multiple points in the last decade and it would have been accurate in the moment yet completely wrong. An index of mostly business software companies, the BVP Nasdaq Emerging Cloud Index, has more than quintupled since 2013, compared with a 74% gain for the S&P 500 over the same period. It’s true that 10 years into an unprecedented bull market in stocks, unusual valuations are par for the course. Maybe the bubble for business software firms will never end, or stock prices of these highflying software firms will deflate slowly rather than blow up. Maybe. Or there may be a high price to pay for software companies in an unprecedented stratosphere. (1) No, I am not sorry at all. I will say, however, that the "U" in PUTINs, Ultimate Software Group Inc., was sold in May to an investor group. My acronym is broken.(2) Yes, these software companies tend to be valued as a multiple of revenue rather than profits. In many cases they don't have profits.(3) Bloomberg Beta, the venture capital arm of Bloomberg Opinion parent Bloomberg LP, is an investor in Slack.To contact the author of this story: Shira Ovide at sovide@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Bull of the Day: Veeva Systems (VEEV)
    Zacks6 days ago

    Bull of the Day: Veeva Systems (VEEV)

    Bull of the Day: Veeva Systems (VEEV)

  • Business Wire8 days ago

    Okta Names Robert L. Dixon, Jr. to Board of Directors

    Okta, Inc. (OKTA), the leading independent provider of identity for the enterprise, announced the addition of Robert L. Dixon, Jr., former Global Chief Information Officer and Senior Vice President of PepsiCo, Inc. to its board of directors, effective June 14. “Robert’s knowledge and expertise as CIO of one of the world’s most recognizable and successful brands will bring invaluable insight not only to Okta’s board of directors, but to our organization as a whole as we execute on our vision of enabling any organization to use any technology,” said Todd McKinnon, Chief Executive Officer and co-founder, Okta.

  • Business Wire13 days ago

    Okta Named a Leader in Identity-as-a-Service for Enterprise

    Results rank Okta highest in Both Current Offering and Strategy Categories in Independent Analyst Report

  • Data Breaches Make Zero Trust The New Buzzword In Cybersecurity
    Investor's Business Daily14 days ago

    Data Breaches Make Zero Trust The New Buzzword In Cybersecurity

    Despite huge spending on cybersecurity, data breaches continue. But new "zero trust" models could usurp firewalls as the best way to stop cyberattacks and ensure insiders are secure.

  • Hedge Funds Have Never Been This Bullish On Okta, Inc. (OKTA)
    Insider Monkey14 days ago

    Hedge Funds Have Never Been This Bullish On Okta, Inc. (OKTA)

    Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]

  • Will Okta Stock Continue to Crush the Market Going Forward?
    Market Realist18 days ago

    Will Okta Stock Continue to Crush the Market Going Forward?

    Are High-Growth Tech Stocks Attractive after Recent Pullback?(Continued from Prior Part)Okta stock  Okta (OKTA), an enterprise identity management service provider, has generated staggering returns since its IPO in April 2017. Okta stock has risen

  • Is Okta, Inc.'s (NASDAQ:OKTA) Balance Sheet A Threat To Its Future?
    Simply Wall St.18 days ago

    Is Okta, Inc.'s (NASDAQ:OKTA) Balance Sheet A Threat To Its Future?

    There are a number of reasons that attract investors towards large-cap companies such as Okta, Inc. (NASDAQ:OKTA...

  • Motley Fool21 days ago

    Uber's First Public Quarter, Uber's First Public Billion-Dollar Loss

    The path to profitability had better be short if Uber wants to stop hemorrhaging money; plus more earnings from tech, retail, and more.

  • TheStreet.com22 days ago

    Okta Bucks the Market Trend With a New Upside Price Target

    For his "Executive Decision" segment of Mad Money Friday night, Jim Cramer spoke with Todd McKinnon, CEO of Okta Inc. McKinnon said Okta has over 6,500 customers across the globe and they're working hard to protect each and every one. The CEO explained many of their customers need a simple, yet secure, user experience.

  • Okta (OKTA) Surges: Stock Moves 6.2% Higher
    Zacks22 days ago

    Okta (OKTA) Surges: Stock Moves 6.2% Higher

    Okta (OKTA) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.

  • Here is the 28th Most Popular Stock Among Hedge Funds
    Insider Monkey24 days ago

    Here is the 28th Most Popular Stock Among Hedge Funds

    Hedge funds are not perfect. They have their bad picks just like everyone else. Facebook, a stock hedge funds have loved dearly, lost nearly 40% of its value at one point in 2018. Although hedge funds are not perfect, their consensus picks do deliver solid returns. Our data show the top 20 S&P 500 stocks […]

  • Associated Press25 days ago

    Gap and Dell tumble while Williams-Sonoma and Okta advance

    The cloud identity management company beat Wall Street's first quarter financial forecasts and gave investors a solid forecast for the year. The cloud computing services company issued a weaker-than-expected profit and revenue forecast for the current quarter. The clothing and apparel retailer's first quarter financial results fell short of Wall Street forecasts and it slashed its profit forecast for the year.

  • American City Business Journals25 days ago

    CrowdStrike may top these 6 biggest-ever U.S. security IPOs next month

    The Suynnyvale could be valued as high as $4.5 billion and would be only the seventh venture-backed U.S. cybersecurity business to be valued at more than $1 billion in its Wall Street debut.

  • TheStreet.com25 days ago

    Okta Shares Are On a Tear -- CEO Todd McKinnon Sheds Light on Why

    Shares of Okta, which sells cloud software for identity and access management, shot up around 7% on Friday after it trounced Wall Street's expectations for revenue and posted a narrower-than-expected loss. For the quarter, Okta reported quarterly revenue of $125 million for the quarter, up 50% from one year ago and ahead of analysts' estimates. "At our scale, that's really strong growth," Okta CEO Todd McKinnon told TheStreet.

  • Barrons.com25 days ago

    Okta Stock Is on Fire as Revenue Beats Analyst Estimates

    The cloud-based software company went public two years ago at $17 a share. It’s now trading at close to $117.

  • TheStreet.com25 days ago

    Okta Stock Gains on Narrower-Than-Expected Loss

    Shares of identity recognition security software maker Okta rise after the company reports a narrower-than-expected fiscal first-quarter loss.

  • Okta's (OKTA) Q1 Earnings and Revenues Surpass Estimates
    Zacks25 days ago

    Okta's (OKTA) Q1 Earnings and Revenues Surpass Estimates

    Okta's (OKTA) first-quarter fiscal 2020 results benefit from increasing adoption of the company's Identity and workforce solutions and growth in customer base.

  • Okta COO Frederic Kerrest on Q1 earnings
    Yahoo Finance Video25 days ago

    Okta COO Frederic Kerrest on Q1 earnings

    Okta COO and co-founder Frederic Kerrest joins The Final Round to discuss the company's first quarter earnings and profitability

  • YFi Interactive: Breaking down the first quarter earnings for big tech
    Yahoo Finance Video25 days ago

    YFi Interactive: Breaking down the first quarter earnings for big tech

    Yahoo Finance's Adam Shapiro and Jared Blikre discuss the earnings reports for Okta, VMWare, and Dell.

  • Okta's Q1 revenue exceeds expectations
    Yahoo Finance Video25 days ago

    Okta's Q1 revenue exceeds expectations

    Software company Okta reported record revenue in the first quarter, surging to $125.2 million. Yahoo Finance's Akiko Fujita, Dan Roberts, and Kristin Myers discuss.