Okta Inc Class A

OKTA: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$895.00	Ftptj	Tmtcspnn

Okta Remains Attractive Even as We Lower Our Long-Term Profitability Assumptions; FVE to $193

Malik Ahmed Khan

Jun 10, 2022

We are lowering our fair value estimate for narrow-moat Okta to $193 from $280 as we are taking a more conservative stance on our long-term profitability assumptions. Nonetheless, our new fair value estimate is still solidly above the company’s current share price. We continue to believe that the market’s reaction to recent macroeconomic events has been overdone, with many high-quality software names put to the sword as investors fled from tech.

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