OKTA's 7% YTD Return is Misleading: How to Play This Growth Stock?
Okta(OKTA) ZACKS·2024-08-24 00:41
Okta (OKTA) shares have gained a modest 7.3% year to date (YTD), underperforming the broader Zacks Computer & Technology sector's return of 22.8% but outperforming the Zacks Internet Software-Services industry's gain of 3.9%. OKTA has been suffering from a challenging macroeconomic environment and the negative impact of the security breach. It expects current remaining performance obligation growth between 10% and 11% which is lower than 15% reported in the first quarter of fiscal 2025. However, we believe ...