Movement Alert｜Okta Rises 5.2% in Regular Trading, Boosted by Arete Upgrade to Buy with $127 Target

Market Focus

May 28

On May 28, Okta rose 5.2% in regular trading, trading at $94.17/share, with trading volume of $126 million. The stock gained momentum ahead of its quarterly earnings release scheduled for after market close.

On the news front, Arete significantly upgraded Okta from sell to buy and raised its price target from $83 to $127, implying substantial upside from current levels. According to FactSet, analysts maintain an average rating of overweight on Okta with a mean price target of $100.72. The upgrade comes as the company prepares to report results, with consensus estimates projecting quarterly revenue of approximately $752 million, representing 10.53% year-over-year growth, and adjusted earnings per share of $0.85.

Within the Internet Services & Infrastructure sector, the broader industry saw strong gains. Among individual stocks, Snowflake up 34.94%, MongoDB up 9.72%, Cloudflare up 7.96%, CoreWeave up 3.45%, Applied Digital up 0.77%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The stock gained momentum ahead of its quarterly earnings release scheduled for after market close.</p><p>On the news front, Arete significantly upgraded Okta from sell to buy and raised its price target from $83 to $127, implying substantial upside from current levels. According to FactSet, analysts maintain an average rating of overweight on Okta with a mean price target of $100.72. The upgrade comes as the company prepares to report results, with consensus estimates projecting quarterly revenue of approximately $752 million, representing 10.53% year-over-year growth, and adjusted earnings per share of $0.85.</p><p>Within the Internet Services &amp; Infrastructure sector, the broader industry saw strong gains. 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It does not constitute investment advice or a basis for trading decisions.)</p></p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OKTA","symbol_name":"Okta Inc.","start_time":0,"source_url":"","article_id":"1132756869","we_media_id":"1054767329","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1132756869","pubTimestamp":1779980582,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Market Focus","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1054767329","head_image":"https://static.tigerbbs.com/51943b2858f75e05ca2ebb144b4e626a"},"summary":"On May 28, Okta rose 5.2% in regular trading, trading at $94.17/share, with trading volume of $126 million. 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