Okta to Post Solid Fiscal Q2 Results, Truist Says

MT Newswires Live
Aug 25

Okta (OKTA) is expected to post solid fiscal Q2 results on Tuesday as the company is nearing an inflection point, Truist Securities said in an earnings preview Monday.

Headwinds from seat count pressure and go-to-market changes will abate for the identity management company in fiscal H2, the firm said.

Truist said it believes that the company's recently announced go-to-market specialization should drive new logos and upsell.

The firm said it is optimistic that the company has the right go-to-market in place with the "early success with the hunter-farmer model" in US small and midsize businesses and its traction in the US public sector.

Truist upgraded Okta's rating to buy from hold and raised its price target to $125 from $100.

Price: 92.09, Change: +0.04, Percent Change: +0.04

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