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RBC Capital Sticks to Its Buy Rating for Okta (OKTA)

Tipranks - Tipranks - Fri Mar 6, 6:31AM CST

In a report released yesterday, Matthew Hedberg from RBC Capital maintained a Buy rating on Okta, with a price target of $108.00. The company’s shares closed yesterday at $71.74.

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Hedberg covers the Technology sector, focusing on stocks such as ServiceNow, Check Point, and Cloudflare. According to TipRanks, Hedberg has an average return of 1.2% and a 43.80% success rate on recommended stocks.

Okta has an analyst consensus of Strong Buy, with a price target consensus of $102.17, implying a 42.42% upside from current levels. In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $95.00 price target.

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Based on Okta’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $742 million and a net profit of $43 million. In comparison, last year the company earned a revenue of $665 million and had a net profit of $16 million

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