CIAM
Okta Deep Dive Refresh (Pt.3) & 1Q24 Update
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1Q24 Update
Positives from the 1Q24 ER are the beats on revenue, non-GAAP EBIT, and EPS guidance. Additionally, management raised FY24 revenue guidance by $18m, equating to a growth increase of 100 bps. However, investors
Okta Deep Dive Refresh (Pt.1)
Summary
* Despite the rivalry with Microsoft and other AM players, Okta continues to be the best choice for enterprises leading a cloud-first, multicloud, and multi-OS environment strategy.
* Now that Okta’s stock has doubled since its Nov-22 low, the stock trades not much lower than its fair
Updates - Okta 3Q23
Summary
* Okta is back on track, executing well amid a toughening macro climate.
* The Auth0 sales integration issues appear to have been largely resolved.
* Management’s guidance is very cautious – just 16% growth for the next fiscal year of FY24.
* Given Okta’s current DBNR, this suggests there would need