Stifel reiterates Okta stock Buy rating after board changes
Stifel maintains a Buy rating on Okta, Inc. (NASDAQ: OKTA) after board changes were announced. The company appointed Helen Riley, CFO and COO at Alphabet’s research and development subsidiary X, to its Board of Directors and Audit Committee, effective September 18. Riley brings extensive experience in global financial strategy, analytics, and sales finance.
Meanwhile, Emilie Choi resigned from the board after four years, with Okta stating her departure was unrelated to any disagreements. Despite the board composition change, Stifel analyst Adam Borg retained the Buy rating for the company. Okta’s stock has risen 111% year-to-date, trading near its 52-week high of $192.59. The firm’s financial health is reflected in its perfect Piotroski Score of 9.
However, Okta’s Fair Value analysis suggests the stock might be overvalued at current levels. InvestingPro offers 18 additional tips and a Pro Research Report for deeper insights into Okta’s prospects. Other recent news highlights strong fiscal 2027 results, including a 14% year-over-year growth in current remaining performance obligations that surpassed estimates.
Price targets from various analyst firms range from $160 to $200, indicating optimism about Okta’s growth and performance.
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