Okta, Inc (OKTA) – Mixed quarter with strong revenue but weak cRPO guidance

Okta, Inc (OKTA) (Q1FY24)

Introduction

Okta, Inc. 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. It sells its products directly to customers through sales force and channel partners. 

Highlights

The company last month introduced Okta authentication for end-to-end encrypted meetings for all paid joint customers in partnership with Zoom. This new feature uses Okta to verify meeting attendees’ identities in order to ascertain whether they are who they claim to be.

Stock performance

Okta stock price declined by 25.45% in past 1- year. The stock has a 52-week high of $99.68 and its 52-week low is $44.12. The stock price declined in the past three months, giving -12.69% due to investors’ concerns about the tough macro.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Peer Valuation.
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Segment Performance
– Key Metrics

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 30

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