The recent dropdown in Okta's share price creates a one-of-a-kind buying opportunity for investors, according to Jefferies.
The recent dropdown in Okta 's share price creates a one-of-a-kind buying opportunity for investors, according to Jefferies. Shares of the identity management software provider have dropped roughly 73% this year amid a slew of macro-related and sales integration issues — along with a security breach.
"While we do not discount the amount of work in front of the company , we highlight a fantastic product, coupled with a large and underpenetrated market." The firm's $90 price objective suggests shares could jump 48% going forward. While Gallo expects Okta's turnaroud efforts to take a few quarters, the company should benefit from rising demand for a multi-use identity product.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Essential California: In pursuit of a shady bus stopThe call for covered bus shelters went out nearly 50 years ago in L.A. County.
Read more »
What were retail investors doing during Tuesday’s stock market selloff? Here’s a clue: They’re ‘generally a contrarian bunch’Everyday investors bought up $2 billion in equities and ETFs on Tuesday as stock markets slipped badly. Tuesday’s buying spree was second to the $2.6 billion spent on May 5, when the Dow Jones Industrial Average sloughed off more than 1,000 points.
Read more »
Silver Price Analysis: XAG/USD sticks to gains near daily high, around mid-$19.00sSilver Price Analysis: XAG/USD sticks to gains near daily high, around mid-$19.00s – by hareshmenghani Silver Commodities Technical Analysis XAGUSD
Read more »
Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
Read more »