{"id":55372,"date":"2023-08-31T14:27:08","date_gmt":"2023-08-31T18:27:08","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/okta-stock-surges-analysts-praise-its-improved-execution\/"},"modified":"2023-08-31T14:27:11","modified_gmt":"2023-08-31T18:27:11","slug":"okta-stock-surges-analysts-praise-its-improved-execution","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55372","title":{"rendered":"Okta Stock Surges. Analysts Praise Its Improved Execution."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Okta
\n was one technology stock seeing an impressive bounce on Thursday.<\/p>\n

Shares of
\n Okta
\n (ticker: OKTA), the maker of cloud identification software that allows workers to access multiple platforms with a single sign-on, were up 11% in premarket trading at $81.65. Analysts were singing the company\u2019s praises after it beat earnings expectations for the second quarter and issued impressive guidance.<\/p>\n

\n

The story was dramatically different from this time a year ago, when the company was facing difficulties integrating its acquisition of Auth0 and coping with a weakening economy. The stock dropped 30% in September 2022. Guggenheim analyst John DiFucci called it a \u201ccompany in disarray\u201d as co-founder Frederic Kerrest embarked on a year-long sabbatical and Chief Product Officer Diya Jolly left the company.<\/p>\n

\u201cThere\u2019s certainly still work to do, but CEO Todd McKinnon and team have made important strides to improvement,\u201d Guggenheim analysts wrote in a note following Okta\u2019s results. \u201cThe vision of a complete identity platform is coming to fruition.\u201d They raised their price target on the stock to $100 from $96.<\/p>\n

The company said Wednesday that Kerrest won\u2019t return to an operational role, but will remain a board member.\u00a0<\/p>\n

Evercore ISI analysts led by Peter Levine upgraded the stock to In Line from Underperform with a price target of $75.<\/p>\n

\u201cManagement seems to have a much better handle on the business today versus when we were coming into the year,\u201d Evercore wrote in a note. \u201cIt\u2019s now all about execution.\u201d<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Okta was one technology stock seeing an impressive bounce on Thursday. Shares of Okta (ticker: OKTA), the maker of cloud identification software that allows workers to access multiple platforms with a single sign-on, were up 11% in premarket trading at $81.65. Analysts were singing the company\u2019s praises after it beat earnings expectations for the second […]<\/p>\n","protected":false},"author":1,"featured_media":55373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-55372","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nOkta Stock Surges. Analysts Praise Its Improved Execution. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Okta was one technology stock seeing an impressive bounce on Thursday. 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