Is Okta Stock a Buy Right Now?
(NASDAQ: OKTA) stock has been disappointing investors in recent years as the company's growth has slowed from the pace it reached during its pandemic-era boom. Shares of the identity and access management technology leader are down by about 75% from the all-time high they touched in 2021, and down about 19% year to date.
Those results may look discouraging, but the underlying trends for Okta's business offer several reasons to remain optimistic that a turnaround could be on the horizon. The company is finally delivering positive earnings with an initiative to leverage artificial intelligence (AI) as a new growth driver supporting a positive outlook.
Let's explore whether Okta stock deserves a buy rating now.
Source Fool.com
Okta Inc. Stock
€65.87
0.630%
The stock is an absolute favorite of our community with 38 Buy predictions and no Sell predictions.
As a result the target price of 106 € shows a very positive potential of 60.92% compared to the current price of 65.87 € for Okta Inc..
