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Okta, Inc. (OKTA) provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. 
The company offers Okta's, a suite of products and services is used to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions.
It also provides Universal Login allows customers to provide login experience across different applications and devices; Attack Protection, a suite of security capabilities that protect from malicious traffics; Adaptive Multi-Factor Authentication that minimizes friction to end users; Passwordless authentication enables users to login without a password and supports in various login methods; Machine to Machine provides standards-based authentication and authorization; Private Cloud that allows customers to run a dedicated cloud instance of Customer Identity Cloud;
In addition, the company provides organization; Actions and Extensibility; and Enterprise Connections. Shares have formed a bullish "flag" following the company's latest quarterly report. On August 30th, OKTA reported earnings of $0.21 per share on revenue of $556.00 million for the fiscal second quarter ended July 2023. The consensus earnings estimate was $0.22 per share on revenue of $534.06 million.
Guided Higher: The company said it expects third-quarter non-GAAP earnings of $0.29 to $0.30 per share on revenue of $558.0 million to $560.0 million. The consensus earnings estimate is $0.18 per share on revenue of $550.85 million for the October 31, 2023 quarter. The company reports on November 29th.
Entry Point: $85.50
Stop Loss: $81.50
Trading Range: $44.12 to $91.50
Target Price: $94.00
