Why Okta Stock Lost 16% in August
Shares of Okta (NASDAQ: OKTA) were pulling back last month after the cloud-based identity software specialist posted disappointing results in its fiscal 2025 second-quarter earnings report toward the end of the month. Okta's growth rate has slowed substantially since the end of the pandemic, following challenges with its integration of Auth0 and multiple security breaches.
The second-quarter results beat nominal expectations but showed that the company's growth is expected to slow. According to data from S&P Global Market Intelligence, the stock finished the month down 16%.
As you can see from the chart below, the earnings report was responsible for all of the decline after an earlier sell-off driven by the broader market pullback.
Source Fool.com
Okta Inc. Stock
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 58.54% compared to the current price of 66.86 € for Okta Inc..
