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They expect Okta to report revenue of $511 million and a profit per share of 11 cents. This compares to analysts’ consensus for EPS of $0.13 on revenue of $510.5M.
“While we do not anticipate any surprises in 1Q results, we continue to flag our concerns around Okta’s ability to reinvigorate growth and expect FY24 cRPO guidance of $1,940 to be reiterated as company specific risks persists,” analysts wrote in a client note.
BofA’s price target of $64 per share implies a 20% downside risk.
“[We] see limited upside to management’s 15% FY24 cRPO growth target.,” they said in a note.
