Reported 3 days ago
Okta shares experienced a decline following their fiscal Q1 report despite strong results, primarily due to conservative guidance amidst economic uncertainty. The company reported a 15% drop in share price since May 27 but remains 35% up year-to-date. While Okta maintains a strong demand for innovative products and is adjusting its market approach, its cautious revenue forecast and declining net dollar retention rate have raised concerns. Analysts suggest that current stock valuations make it a potential buying opportunity.
Source: YAHOO