BUZZ-Okta jumps after brokerages raise PT on robust forecasts

Reuters
03-05
BUZZ-Okta jumps after brokerages raise PT on robust forecasts

** Digital identity verification firm Okta's shares OKTA.O jump 19.3% to $103.94, set to log their best day in more than a year

** At least 17 brokerages raise PT on stock after co's upbeat Q4 and strong forecasts

** Bernstein says customers who have adopted Okta's broader product suite would find it challenging to move away; instead customers are deepening their relationship

** Okta is set to add about $2.6 bln in market value if gains hold

** Co expects Q1 revenue of $678 mln to $680 mln, above analysts' estimates of $670.81 mln - LSEG-compiled data

** Forecasts Q1 adjusted EPS of 76 cents to 77 cents, vs ests of 70 cents

** Forecasts fiscal 2026 revenue of $2.85 bln to $2.86 bln, above estimates of $2.80 bln

** Forecasts fiscal 2026 adjusted EPS of $3.15 to $3.20, also above estimates of $2.94

** Avg. rating of 41 analysts covering the stock is "buy"; median PT $112.50 - LSEG

** Up to last close, stock had fallen ~20% over the past 12 months

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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