Tuesday's ETF with Unusual Volume: PABU
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 09 2024
0mins
Should l Buy OKTA?
Source: NASDAQ.COM
- High Volume ETF Components: Nvidia and Tesla were the top components of the iShares Paris-Aligned Climate MSCI USA ETF on Tuesday, with Nvidia trading up 1.7% and Tesla up 4.8%.
- Low Performing Component: Okta was lagging behind other components of the ETF, trading lower by about 3.9% on Tuesday.
- Video Mention: A video titled "Tuesday's ETF with Unusual Volume: PABU" was referenced in the content.
- Disclaimer: The views and opinions expressed in the content belong to the author and may not represent those of Nasdaq, Inc.
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Analyst Views on OKTA
Wall Street analysts forecast OKTA stock price to rise
31 Analyst Rating
22 Buy
8 Hold
1 Sell
Moderate Buy
Current: 76.760
Low
75.00
Averages
114.03
High
145.00
Current: 76.760
Low
75.00
Averages
114.03
High
145.00
About OKTA
Okta, Inc. is an independent identity partner. The Company’s Okta Platform and Auth () Platform enable its customers to securely connect the right people to the right technologies and services at the right time. It offers independent and neutral cloud-based identity solutions that allow customers to integrate with nearly any application, service or cloud that they choose through its platforms. Organizations use the Company’s Identity Platform to collaborate with their partners, and to provide their customers with secure experiences in the cloud and via mobile devices. Developers leverage the Workforce Identity Cloud and Customer Identity Cloud, powered by Auth (), to securely and efficiently embed identity into the software they build, allowing them to innovate and focus on their core missions. Its Okta Platform enables its customers to automate and secure access across their ecosystem of employees, contractors and partners, increasing collaboration across their workforces.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Databricks Launches Lakewatch Cybersecurity Product
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- Innovative Pricing Model: Unlike traditional models that charge based on data storage, Lakewatch will charge based on the workload performed by the software, aiming to reduce costs for customers and attract more enterprises to adopt this solution.
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Okta (OKTA.US) Insider Plans to Sell $15.42 Million in Common Stock via Form 144
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Market Value: The total market value of the shares being sold is approximately $15.42 million.
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- Zscaler Financial Performance: Zscaler's second-quarter revenue for fiscal 2026 reached $815.8 million, reflecting a 26% year-over-year increase, with annual recurring revenue growing 25% to $3.3 billion, showcasing its competitiveness in the rapidly expanding cybersecurity market.
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- Market Valuation Comparison: While Okta's stock has dropped 30% in the past year, it may be undervalued, whereas Zscaler's stock has also fallen over 20%, but its forward P/E ratio remains above 40, indicating market attractiveness.
- AI Impact and Competition: Okta faces growth challenges due to AI disruptions, while Zscaler is proactively collaborating with AI to launch AI-driven security products, enhancing its competitive edge, making Zscaler a more favorable long-term investment.
See More
Comparing Investment Prospects: Okta vs. Zscaler
- Okta Financial Performance: In fiscal year 2026, Okta achieved a 12% year-over-year revenue increase, reaching nearly $3 billion, yet its revenue growth forecast for 2027 has declined to 9%, indicating a slowdown that could impact its long-term investment appeal.
- Zscaler Strong Growth: Zscaler reported $815.8 million in revenue for Q2 of fiscal 2026, marking a 26% year-over-year increase, with annual recurring revenue growing 25% to $3.3 billion, and it expects 24% revenue growth for the full year, demonstrating financial health and market competitiveness.
- Market Valuation Changes: While Okta's stock has dropped 30% over the past year, its current valuation may be undervalued, whereas Zscaler's stock has also fallen over 20%, but its forward P/E ratio exceeds 40, reflecting market confidence in its future growth.
- AI Impact and Strategic Positioning: Facing growth challenges due to AI, Okta's deceleration is concerning, while Zscaler's collaboration with AI to develop security products showcases its stronger market adaptability, potentially giving it an edge in future competition.
See More
Latest Wall Street Ratings Overview
- Apple's Product Strategy: Bernstein reiterates Apple as outperform, viewing recent product launches as a strategy to widen price bands to gain market share in the lower end while raising prices at the high end to maintain margins, showcasing its flexible market approach.
- Micron's Strong Pricing: Bank of America reiterates Micron as a buy, anticipating “stronger pricing for longer” following the company's earnings report on Wednesday, raising the price target from $400 to $500, reflecting optimism about a durable memory cycle.
- Nvidia Strong Buy Rating: Raymond James raises Nvidia's price target from $291 to $323 while maintaining a Strong Buy rating, projecting cumulative GPU sales to reach $1 trillion by 2027, indicating a positive market outlook.
- Carnival Upgraded to Overweight: Morgan Stanley upgrades Carnival from equal weight to overweight, citing the company's strong performance across multiple fronts, including robust free cash flow and industry improvements, suggesting a favorable risk-reward balance moving forward.
See More
Databricks Launches Lakewatch Cybersecurity Product
- New Product Launch: Databricks has introduced Lakewatch, a cybersecurity product leveraging large language models (LLMs) to automate and enhance security measures, with current users including Adobe and National Australia Bank, indicating strong market demand and potential.
- Innovative Pricing Model: Unlike traditional models that charge based on data storage, Lakewatch will charge based on the workload performed by the software, aiming to reduce costs for customers and attract more enterprises to adopt this solution.
- Competitive Market Advantage: As an alternative to traditional security information and event management (SIEM) services, Lakewatch could pose a threat to industry giants like Palo Alto Networks, Cisco, and Google, helping Databricks carve out a niche in the cybersecurity sector.
- Future Growth Potential: With increasing cybersecurity demands, Lakewatch is positioned to support Databricks' $134 billion valuation and pave the way for a potential IPO, with CEO Ali Ghodsi hinting at a possible public offering in 2026.
See More
Okta (OKTA.US) Insider Plans to Sell $15.42 Million in Common Stock via Form 144
Stock Sale Announcement: Michael Astaney plans to sell 190,000 shares of its common stock on March 23.
Market Value: The total market value of the shares being sold is approximately $15.42 million.
See More
Financial Performance Analysis of Okta and Zscaler
- Okta Revenue Growth: Okta reported a 12% year-over-year revenue increase for fiscal 2026, nearing $3 billion in subscription revenue, demonstrating resilience in the market despite facing threats from artificial intelligence.
- Zscaler Financial Performance: Zscaler's second-quarter revenue for fiscal 2026 reached $815.8 million, reflecting a 26% year-over-year increase, with annual recurring revenue growing 25% to $3.3 billion, showcasing its competitiveness in the rapidly expanding cybersecurity market.
- Changing Growth Expectations: Okta anticipates a slowdown in revenue growth to 9% for fiscal 2027, while Zscaler has revised its fiscal 2026 revenue growth forecast upward to 24%, indicating a stronger growth trajectory for Zscaler in the market.
- Investment Value Assessment: Although Okta's stock has dropped 30%, it may be undervalued, while Zscaler's stock has also declined by 20%, yet its financial metrics present a more appealing investment opportunity, particularly in AI-driven security products.
See More
Comparing Long-Term Investment Prospects of Okta and Zscaler
- Okta Financial Performance: Okta reported a 12% year-over-year revenue increase for fiscal 2026, nearing $3 billion, but its revenue growth forecast for 2027 has declined to 9%, indicating a slowdown that may affect investor confidence.
- Zscaler's Strong Growth: Zscaler reported $815.8 million in revenue for Q2 of fiscal 2026, a 26% year-over-year increase, with annual recurring revenue growing 25% to $3.3 billion, and it expects 24% revenue growth for the full year, showcasing robust market performance.
- Market Valuation Comparison: While Okta's stock has dropped 30% in the past year, it may be undervalued, whereas Zscaler's stock has also fallen over 20%, but its forward P/E ratio remains above 40, indicating market attractiveness.
- AI Impact and Competition: Okta faces growth challenges due to AI disruptions, while Zscaler is proactively collaborating with AI to launch AI-driven security products, enhancing its competitive edge, making Zscaler a more favorable long-term investment.
See More
Comparing Investment Prospects: Okta vs. Zscaler
- Okta Financial Performance: In fiscal year 2026, Okta achieved a 12% year-over-year revenue increase, reaching nearly $3 billion, yet its revenue growth forecast for 2027 has declined to 9%, indicating a slowdown that could impact its long-term investment appeal.
- Zscaler Strong Growth: Zscaler reported $815.8 million in revenue for Q2 of fiscal 2026, marking a 26% year-over-year increase, with annual recurring revenue growing 25% to $3.3 billion, and it expects 24% revenue growth for the full year, demonstrating financial health and market competitiveness.
- Market Valuation Changes: While Okta's stock has dropped 30% over the past year, its current valuation may be undervalued, whereas Zscaler's stock has also fallen over 20%, but its forward P/E ratio exceeds 40, reflecting market confidence in its future growth.
- AI Impact and Strategic Positioning: Facing growth challenges due to AI, Okta's deceleration is concerning, while Zscaler's collaboration with AI to develop security products showcases its stronger market adaptability, potentially giving it an edge in future competition.
See More
Latest Wall Street Ratings Overview
- Apple's Product Strategy: Bernstein reiterates Apple as outperform, viewing recent product launches as a strategy to widen price bands to gain market share in the lower end while raising prices at the high end to maintain margins, showcasing its flexible market approach.
- Micron's Strong Pricing: Bank of America reiterates Micron as a buy, anticipating “stronger pricing for longer” following the company's earnings report on Wednesday, raising the price target from $400 to $500, reflecting optimism about a durable memory cycle.
- Nvidia Strong Buy Rating: Raymond James raises Nvidia's price target from $291 to $323 while maintaining a Strong Buy rating, projecting cumulative GPU sales to reach $1 trillion by 2027, indicating a positive market outlook.
- Carnival Upgraded to Overweight: Morgan Stanley upgrades Carnival from equal weight to overweight, citing the company's strong performance across multiple fronts, including robust free cash flow and industry improvements, suggesting a favorable risk-reward balance moving forward.
See More
