Okta (NASDAQ:OKTA) Stock, Quote.Headers.trade-ideas

Okta

Okta is a cloud-native security company that focuses on identity and access management. The San Francisco-based firm went public in 2017 and focuses on two key client stakeholder groups: workforces and customers. Okta's workforce offerings enable a company's employees to securely access its cloud-based and on-premises resources. The firm's customer offerings allow its clients' customers to securely access the client's applications.

Opinion

Markets

OKTA

Okta&#39;s Costly Cyber Security Failures: A $60 Million Lesson in Transparency

Stock market analysts

News

Price Target

Pre-Market Outlook

Analyst Ratings

Trading Ideas

CHWY

NVDA

This Analyst With 85% Accuracy Rate Sees Around 16% Upside In Chewy - Here Are 5 Stock Picks For August From Wall Street&#39;s Most Accurate Analysts

Rosenblatt Securities’ Hans Mosesmann Says Nvidia Will Be Worth $5 Trillion By Mid-2025, Here are 10 Companies It Will Eclipse If That Happens

CTRA

This Analyst With 87% Accuracy Rate Sees Over 24% Upside In Nvidia - Here Are 5 Stock Picks For Last Week From Wall Street&#39;s Most Accurate Analysts

Okta Inc

OKTA CL A ORD

Ukrainian President Volodymyr Zelenskyy has called on Western leaders to take decisive action to compel Russia into ending the war, which he says cannot be resolved through dialogue alone. This plea comes amid accusations from the Kremlin that the United Nations is ignoring Ukraine&#8217;s alleged incursion into Russia&#8217;s Kursk region.
What Happened: Speaking at the United Nations Security Council, Zelenskyy emphasized the need for &#8220;forcing Russia into peace,&#8221; reported Reuters on Wednesday.
&#8220;This war can&#8217;t be calmed by talks. Action is needed,&#8221; Zelenskyy urged.
Zelenskyy&#8217;s <a href="https://www.benzinga.com/news/24/09/40975071/ukraines-zelenskyy-heads-to-us-to-present-victory-plan-against-russia-to-biden-as-war-drags-for-over">&#8220;victory plan&#8221; to end the war</a>, which he has been advocating to Western leaders, does not involve ceding any territory to Russia. He also accused North Korea and Iran of being &#8220;de facto accomplices&#8221; of Moscow by providing arms for the war.
Meanwhile, Russian Foreign Minister Sergei Lavrov slammed the U.N. of ignoring alleged atrocities committed by Ukrainian forces during an incursion into Russia&#8217;s Kursk region last month. 
&#8220;I have not heard any voices from U.N. representatives responsible for human rights, including, of course, the secretary general,&#8221; he said, referring to U.N. Secretary Antonio Guterres.
See Also: <a href="https://www.benzinga.com/government/24/09/40971374/elon-musk-responds-to-venture-capitalists-claim-on-government-subsidies-for-spacex-tesla-do-some-res?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Responds to Venture Capitalist&#8217;s Claim On Government Subsidies For SpaceX, Tesla: &#8216;Do Some Research Before You Display Your Utter Ignorance&#8217;</a>
Why It Matters: Zelenskyy&#8217;s call for Western support to force Russia into peace comes after a series of escalating tensions. Earlier this month, Russian President Vladimir Putin warned that Ukraine&#8217;s use of Western-made <a href="https://www.benzinga.com/news/24/09/40851131/russian-president-says-ukraines-use-of-long-range-missiles-would-signal-that-us-and-nato-are-at-war">long-range missiles</a> against Russia could lead to a direct military confrontation between Russia and the West. Zelenskyy had been lobbying for Western allies to permit Ukraine to deploy these missiles as a means to limit Moscow&#8217;s attack capabilities, a move that Putin argued would implicate the countries providing the missiles in the conflict.
Additionally, former U.S. President Donald Trump recently claimed that <a href="https://www.benzinga.com/news/24/09/40998738/trump-says-ukrainian-president-backs-kamala-harris-for-white-house-zelenskyy-is-the-greatest-salesma">Zelenskyy favors a Democratic win </a>in the upcoming 2024 U.S. election. This assertion contrasts with some of Trump&#8217;s allies who believe Ukraine would welcome his return, claiming he has the skills to negotiate peace with Putin.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo by evan_huang on Shutterstock

Politics

Global

General

Ukraine's Zelenskyy Urges West For Forcing Russia To Peace While Kremlin Slams UN For Turning A Blind Eye To Kyiv's Incursion Into Kursk

NKTR

Nektar Therapeutics Announced Several Presentations For Rezpegaldesleukin At The 2024 European Academy Of Dermatology And Venereology Congress

CLVT

Clarivate Announced The Development Of A Comprehensive Framework For Evaluating The Societal Impact Of Research

Broadridge Financial Announced That Skandinaviska Enskilda Banken Ab Is Leveraging Broadridge's International Post-trade Processing Solution To Simplify And Streamline Its Securities Business Across International And Domestic Markets

HII (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>) announced today that its Ingalls Shipbuilding division was awarded a $9.6 billion multi-ship procurement contract for the construction of three San Antonio-class (LPD 17) amphibious ships and a contract modification for the next America-class (LHA 6) large-deck amphibious ship. This combined procurement — the first of its kind for amphibious ships — begins the journey for the construction of LPDs 33, 34, 35 and LHA 10 for the U.S. Navy. &nbsp;
"We greatly appreciate the stability that this award provides to all Ingalls shipbuilders and our surrounding communities," Ingalls President Kari Wilkinson said. "It is an honor to continue our support of the joint Navy and Marine Corps mission to meet the minimum 31-amphibious-ship requirement."
Approximately half of all Ingalls shipbuilders build amphibious ships today, with another 650 supplier partners in 39 states across the country that provide components for the construction of amphibious ships.

Government

Regulations

Reported Earlier, HII Secures $9.6B Contract to Build Amphibious Ships for US Navy

VTNR

Reported Earlier, Vertex Energy Announced It Entered Into A Restructuring Support Agreement With Term Loan Lenders And Commenced Chapter 11 Cases In The United States Bankruptcy Court For The Southern District Of Texas

At&nbsp;a special briefing for policymakers on Capitol Hill today, Centrus said that the $3.4 billion that Congress has made available for domestic nuclear fuel production should be focused on deploying American uranium enrichment technology that is manufactured in the United States, by American workers, as opposed to foreign-origin centrifuge technologies that are manufactured overseas.&nbsp;
&nbsp;
&nbsp;
"The need to transition away from Russian nuclear fuel, coupled with a historic investment in U.S. nuclear fuel production approved by Congress, has created a once-in-a-generation opportunity to restore America's domestic supply chain for enriched uranium," said Amir Vexler, President and CEO of Centrus. "We should not be content to trade dependence on Russia for dependence on China, or Europe, or anywhere else. The time has come to invest in American enrichment technology, built by American workers, with an American supply chain."&nbsp;
Vexler was joined at the briefing by leaders of approximately 14 large and small businesses with work locations in 13 states, representing Centrus' nationwide supply chain. These American-owned companies and many others would provide critical components and other support to Centrus if the federal government decides to support deployment of Centrus' American Centrifuge technology, which is manufactured in Oak Ridge, Tennessee and operated in Piketon, Ohio.&nbsp;
Under contract with the U.S. Department of Energy, Centrus has deployed a cascade of sixteen centrifuges at the American Centrifuge Plant in Piketon, Ohio, and is pioneering production of an advanced reactor fuel called High-Assay, Low-Enriched Uranium (HALEU). Centrus' goal is to expand the capacity of the plant with thousands of additional centrifuges to accommodate large-scale production of Low-Enriched Uranium (LEU) for existing reactors and HALEU for next generation reactors. This will require a public private partnership including robust federal investment alongside private capital and purchase agreements from customers.&nbsp;
Centrus is competing for federal funding under a series of Requests for Proposals (RFPs) issued by the U.S. Department of Energy. These RFPs are backed by more than $3.4 billion in Congressional appropriations that were approved as part of the Inflation Reduction Act in 2022 and the bipartisan government funding bill in March 2024.&nbsp;

Centrus Urges Congress to Prioritize US-Made Nuclear Fuel Technology Amid $3.4B Funding to Cut Russian Dependency

Offerings

OCCI

Reported Earlier, OFS Credit Company Announced The Pricing Of An Underwritten Public Offering Of 1,040,000 Shares Of 7.875% Series F Term Preferred Stock Due 2029 At A Price Of $25.00 Per Share, Raising $26.0M In Gross Proceeds

Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) (the "Company," "we" or "Wayfair") today announced the pricing by its subsidiary, Wayfair LLC (the "Issuer"), of its private offering of $800 million in aggregate principal amount of 7.250% senior secured notes due 2029 (the "Notes"). The&nbsp;offering size was increased to $800 million from the previously announced offering size of $700 million in aggregate principal&nbsp;amount&nbsp;of&nbsp;Notes. The Notes&nbsp;will mature on October 31, 2029, unless earlier repurchased or redeemed in accordance with their terms. The Notes oﬀering is expected to close on October 8, 2024, subject to customary closing conditions.
&nbsp;
We intend to use the net proceeds from the Notes oﬀering, together with cash on hand, for the repayment of certain of Wayfair's existing convertible senior notes and general corporate purposes.

Reported Earlier, Wayfair Raised $800M (Prior $700M) Via Upsized Secondary Senior Secured Notes Offering For Debt Repayment

BNZI

Reported Earlier, Banzai International Announced Agreements To Issue And Sell 1,176,471 Class A Common Shares, Along With Series A And Short-term Series B Warrants To Purchase Up To 1,176,471 Shares Each, At $4.25 Per Share

Nuvve Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVVE#NASDAQ">NVVE</a>), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq's Bid Price Rule.&nbsp;
&nbsp;
Nuvve recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. The Company encourages shareholders to protect their shares against market manipulation through actions such as holding shares in cash accounts and requesting "no loan" status.&nbsp;

Stock Split

NVVE

Reported Earlier, Nuvve Holding Executes Reverse Stock Split to Regain Nasdaq Compliance

Rithm Capital Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RITM#NYSE">RITM</a>, "Rithm" or the "Company")))) announced today that it priced its underwritten public offering of 30,000,000 shares of its common stock for gross proceeds of approximately $342.9 million, before deducting estimated underwriting discounts and commissions and estimated offering expenses. In connection with the offering, the Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 4,500,000 shares of common stock. The underwriters may offer the shares from time to time for sale in negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. The offering is expected to close on September 26, 2024, subject to customary closing conditions. The Company intends to use the net proceeds from this offering for general corporate purposes.

RITM

Reported Earlier, Rithm Capital Raised $342.9M Via Secondary Stock Offering Of 30M Shares

SMTC

Semtech Announced Its Collaboration With Traxmate To Offer A Seamless Indoor And Outdoor Asset Tracking Solution

Verizon Business and SK Shieldus have agreed to collaborate to deliver cybersecurity solutions to South Korean and Asian enterprises operating on a global scale. This strategic relationship will leverage Verizon Business' extensive global reach and SK Shieldus' deep-rooted expertise to provide comprehensive, world-class protection addressing the unique needs of Asian businesses. &nbsp;
By combining their strengths in real-time threat intelligence, vulnerability assessment, incident response, and managed security services, Verizon Business and SK Shieldus aim to empower enterprises to confidently navigate the complex global threat landscape, safeguarding their operations and assets worldwide.
Verizon Business works with 99% of Fortune 500 companies and governments worldwide and offers a suite of management and data security services. The company operates nine Security Operations Centers, six forensics labs and one of the largest IP networks in the world, monitoring 61 billion security events annually. In addition, Verizon's investigative response team boasts more than 400 security experts and conducted 500+ IT investigations in 2023.

Verizon and SK Shieldus Team Up to Strengthen Cybersecurity for Asian Enterprises

SNOW

Snowflake Announced The Pricing Of $1.0 Billion Aggregate Principal Amount Of Its 0% Convertible Senior Notes Due 2027 And $1.0 Billion Aggregate Principal Amount Of Its 0% Convertible Senior Notes Due 2029

<a href="https://www.globenewswire.com/Tracker?data=DAo_2_u9_oQEIldgL6aKaJ5v7MvqaO48kWVdUQQPXNb1GYG1p-QfkU9Lg-F2xWAYXFnDoFntLXxCpA_cu4IO3uZxxBBb4khM6taIcweI0Ng=">Arcutis Biotherapeutics, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQT#NASDAQ">ARQT</a>), a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology and immunology, today announced new pooled subgroup analysis results from the Phase 3 INTEGUMENT-1 and -2 trials showing that ZORYVE cream 0.15% provided consistent and meaningful improvements in signs and symptoms of AD in individuals regardless of race, ethnicity, and Fitzpatrick skin types. The results will be presented in a poster at the European Academy of Dermatology &amp; Venereology Congress held September 25-28, 2024, in Amsterdam.
At Week 4, higher percentages of Validated Investigator Global Assessment for AD (vIGA-AD) Success for ZORYVE- vs. vehicle-treated patients were observed regardless of race (White: 32.3% vs. 13.3%; Black or African American: 25.8% vs 11.5%; Asian: 33.7% vs. 21.8%; Others: 33.2% vs. 13.7%), ethnicity (Hispanic or Latino: 32.9% vs. 16.5%; Not Hispanic or Latino: 31.1% vs 13.8%), or Fitzpatrick score (I–III: 33.0% vs. 13.4%; IV–VI: 29.2% vs. 14.8%). The Fitzpatrick skin type is a scale of I to VI that classifies the skin by its reaction to exposure to sunlight, with skin type I being pale white skin that always burns, does not tan, to VI being dark brown or black skin that never burns, always tans darkly. vIGA-AD Success was defined as vIGA-AD value of 0 or 1 plus a 2-grade improvement from baseline.
"Given that the clinical presentation of AD may differ among patients by race, ethnicity, and Fitzpatrick skin type, it is reassuring to see the consistency of efficacy, safety, and tolerability of a treatment across these various subgroups," said Vimal H. Prajapati MD, FRCPC, DABD, clinical associate professor at the University of Calgary and co-founder/co-director of the Skin Health &amp; Wellness Centre, Dermphi Centre, Dermphi Shop, and Dermatology Research Institute. "ZORYVE cream 0.15% consistently achieved meaningful and significant improvements in disease clearance and itch reduction, in all subgroups. This analysis can give confidence to clinicians that ZORYVE provides effective and well-tolerated relief of atopic dermatitis signs and symptoms across individuals with diverse skin types."
ZORYVE-treated patients also achieved a greater improvement in itch as measured by reductions in Worst Itch-Numeric Rating Scale (WI-NRS) Success, defined as ≥4-point improvement in patients 12 years of age and older with baseline WI-NRS score ≥4, at Week 4 with consistent results regardless of subgroup (White: 33.5% vs. 16.5%; Black or African American: 30.6% vs. 21.0%; Asian: 25.4% vs. 7.9%; Others: 34.3% vs. 22.7%), ethnicity (Hispanic or Latino: 37.4% vs. 30.5%; Not Hispanic or Latino: 30.9% vs. 13.8%), or Fitzpatrick score (I–III: 35.5% vs. 15.0%; IV–VI: 27.3% vs. 18.2%). Similar findings were observed for additional endpoints including achievement of vIGA-AD score of ‘Clear (0)' or ‘Almost Clear (1)' and 75% improvement in the Eczema Area and Severity Index (EASI-75).
"We formulated ZORYVE cream with all AD patients in mind, and we are pleased to present these data from our Phase 3 INTEGUMENT studies, which demonstrated ZORYVE's ability to significantly, consistently, and safely improve AD symptoms regardless of race, ethnicity, or skin type," said Patrick Burnett, MD, PhD, FAAD, chief medical officer of Arcutis. "It is critical that our clinical data represent the diversity in the world around us, and these results further reinforce our commitment to providing meaningful innovation for immune-mediated skin diseases."
The Incidence of Treatment Emergent Adverse Events (TEAEs) was low in both ZORYVE- and vehicle-treated patients. The incidence of TEAEs in ZORYVE-treated patients was generally similar across subgroups. Local tolerability was also favorable. The most common adverse reactions were headache, nausea, application site pain, diarrhea, and vomiting.
INTEGUMENT-1 and INTEGUMENT-2 (The INterventional Trial EvaluatinG roflUMilast cream for the treatmENt of aTopic dermatitis) were two identical Phase 3, parallel group, double blind, vehicle-controlled trials evaluating the safety and efficacy of ZORYVE cream 0.15% in AD.

ARQT

Arcutis Reports ZORYVE Cream Shows AD Relief Across Racial and Skin Type Groups: Study Findings

Elon Musk&#8216;s SpaceX on Tuesday slammed the Federal Aviation Administration (FAA) administrator Mike Whitaker for his <a href="https://www.benzinga.com/news/24/09/41016988/spacex-in-violation-of-texas-federal-law-on-some-matters-says-faa-agency-hits-back-at-elon-musks-roc">comments defending delays</a> in greenlighting the next launch of its Starship launch vehicle. 
What Happened: &#8220;&#8230;every statement he made was incorrect,&#8221; SpaceX wrote in a letter addressed to U.S. House of Representatives member Kevin Kiley  (R-Calif.). &#8220;It is deeply concerning that the Administrator does not appear to have accurate information immediately available to him with respect to SpaceX licensing matters.&#8221;
Whitaker told lawmakers on the House Transportation Committee on Tuesday that the decision to delay Starship launches is grounded in safety and also backed the $633,000 fine proposed on SpaceX earlier this month. He said that the fines were proposed against SpaceX for using plans not approved by the agency last year during certain Falcon launch missions.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">FAA Administrator Whitaker made several incorrect statements today regarding SpaceX. In fact, every statement he made was incorrect. It is deeply concerning that the Administrator does not appear to have accurate information immediately available to him with respect to SpaceX… <a href="https://t.co/OrtMUvnCNI">pic.twitter.com/OrtMUvnCNI</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1838694004277547121?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
SpaceX Disputes Claims: SpaceX shot back at Whitaker, disputing the claims made by the agency in proposing fines against the company.
&#8220;SpaceX was fully licensed to conduct these Falcon launches and FAA has not alleged otherwise. With respect to Starship, neither of the two items he referenced, including the sonic boom, are related to public safety, but to environmental considerations that had been previously evaluated as posing no risk to the environment,&#8221; the letter signed by Matt Dunn, Director of Government Affairs at SpaceX, read. &#8220;Additionally, his assertion that SpaceX violated state law is simply wrong,&#8221;
Why It Matters: &#8220;Flight 5 (of Starship) is built and ready to fly. Flight 6 will be ready to fly before Flight 5 even gets approved by FAA!&#8221; Musk said on Thursday, referring to the delay in receiving approvals for Starship flights. Starship last flew in June, and the next test flight is now expected in November. 
The CEO also accused the agency of favoritism towards Boeing after it&nbsp;<a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star" target="_blank" rel="noreferrer noopener">proposed a fine of $633,009</a>&nbsp;on SpaceX for regulatory violations this month. 
"The FAA leadership spends their resources attacking SpaceX for petty matters that have nothing to do with safety, while neglecting real safety issues at Boeing. This is deeply wrong and puts human lives at risk," Musk wrote on Thursday.
SpaceX also<a href="https://www.benzinga.com/markets/equities/24/09/40951122/elon-musk-blasts-faa-for-targeting-spacex-over-petty-matters-while-ignoring-boeings-safety-issue" target="_blank" rel="noreferrer noopener">&nbsp;sent a letter addressed to key members&nbsp;</a>of the U.S. Congress, including Rep.&nbsp;Frank Lucas&nbsp;(R-Okla.) and Rep.&nbsp;Zoe Lofgren&nbsp;(D-Calif.), Sen.&nbsp;Ted Cruz&nbsp;(R-Texas) and Senate Commerce Committee Chair&nbsp;Maria Cantwell&nbsp;(D-Wash.) denying the FAA's allegations of regulatory violations while also countering that the federal agency lacks the resources to review licensing commercial spaceflight operations.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40999063/elon-musks-grok-ai-chatbot-has-no-clue-what-teslas-cybertruck-looks-like-senior-exec-calls-it-extra" target="_blank" rel="noreferrer noopener">Elon Musk's Grok AI Chatbot Has ‘No Clue' What Tesla's Cybertruck Looks Like: Senior Exec Calls It ‘Extra Disappointing'</a></li>
</ul>
Photo courtesy: Shutterstock

SPACE

Tech

SpaceX Hits Back At FAA Chief For Pinning Starship Delays On Safety Concerns: 'Every Statement He Made Was Incorrect'

Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) is pulling its Spiced flavor from shelves <a href="https://www.benzinga.com/news/24/02/37205779/coca-cola-spiced-now-available-in-stores-targets-younger-drinkers-with-raspberry-flavor">just six months after its launch</a>. 
What Happened: The company announced that it is &#8220;always looking at what our customers like and adjusting&#8221; its flavors. A spokesperson mentioned that Coca-Cola plans to phase out Spiced to introduce a new flavor in 2025, <a href="https://edition.cnn.com/2024/09/24/food/coca-cola-spiced-discontinued/index.html">reported</a> CNN on Tuesday.
Despite being marketed as a permanent addition, Spiced struggled with sales. The flavor, which combined traditional Coke with raspberry notes, was launched in February with a significant advertising campaign.
Spiced was aimed at <a href="https://www.benzinga.com/news/24/02/37205779/coca-cola-spiced-now-available-in-stores-targets-younger-drinkers-with-raspberry-flavor">attracting Gen-Z consumers</a> who prefer bolder flavors. 
The discontinuation of Spiced follows Coca-Cola&#8217;s broader strategy of updating its lineup. The company has also confirmed the end of Cherry Vanilla and Diet Coke with Splenda.
As consumer preferences shift towards sparkling waters and hydration beverages, Coca-Cola is expanding its Topo Chico water line and BodyArmor brand, according to the report.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40971260/trumps-historic-bitcoin-transaction-ethereum-co-founder-backs-trump-over-harris-for-crypto?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Historic Bitcoin Transaction, Ethereum Co-Founder Backs Trump Over Harris For Crypto, Gamestop Customer&#8217;s Bitcoin Windfall, And More: This Week In Cryptocurrency</a>
Why It Matters: The discontinuation of Coca-Cola&#8217;s Spiced flavor is part of a broader strategy to keep up with evolving consumer tastes. 
This move comes as Coca-Cola continues to demonstrate resilient growth despite economic challenges. In July, Goldman Sachs highlighted Coca-Cola&#8217;s impressive <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39914783/coca-colas-revenue-and-profit-shows-resilient-growth-amid-inflation-goldman-sachs">revenue and profit growth amid inflation</a>, with a second-quarter top line beat and strong gross margin expansion.
Furthermore, Coca-Cola&#8217;s second-quarter earnings report revealed a 3% year-on-year sales growth to $12.4 billion, <a href="https://www.benzinga.com/news/earnings/24/07/39904801/coca-colas-sweet-surge-q2-earnings-soar-raises-2024-forecasts">surpassing analyst expectations</a>. 
The company also raised its 2024 forecasts, reflecting its strong market position and ability to adapt to changing consumer preferences. Coca-Cola&#8217;s Sweet Surge in second-quarter earnings underscores its strategic adjustments.
Additionally, prominent investor Warren Buffett has significantly benefited from his stake in Coca-Cola. In a recent interview, Grant Cardone pointed out that Buffett <a href="https://www.benzinga.com/personal-finance/24/07/40046044/grant-cardone-says-buffett-made-508-million-as-an-investor-in-coca-cola-last-year-the-ceo-made-5">earned $508 million</a> as an investor in Coca-Cola last year.
Price Action: Coca-Cola Co. closed at $71.33 on Tuesday down 0.56% for the day. In after-hours trading, the stock ticked up 0.014%. Year to date, Coca-Cola shares have risen by 19.24%, according to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40969515/amazon-going-nuclear-hiring-plans-indicate-company-may-be-eyeing-nuclear-to-meet-energy-needs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Going Nuclear? Hiring Plans Indicate Company May Be Eyeing Nuclear To Meet Energy Needs</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Coca Cola's Efforts To Entice Gen Z Fall Flat: Spiced Discontinued After Just 6 Months

Rapper Sean Combs, popularly known as &#8220;Diddy,&#8221; and disgraced cryptocurrency tycoon, Sam Bankman-Fried are now roommates in a Brooklyn jail, a recent report revealed.
What Happened: Combs and Bankman-Fried were housed in the same dormitory at the Metropolitan Detention Center in Brooklyn, known for housing high-profile prisoners, The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-09-25-2024/card/sean-diddy-combs-is-now-jailed-with-sam-bankman-fried-wGvZB0Yv4Mbacqh0e53p">reported</a>, citing its sources. 
Combs, who was denied bail, <a href="https://www.dailymotion.com/video/x95tcfe">has been in custody for nearly a week on federal sex trafficking and racketeering charges</a>. He was shifted to Bankman-Fried&#8217;s unit on Monday. 
MDC Brooklyn didn&#8217;t immediately respond to Benzinga&#8217;s request for comment.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41009150/gary-gensler-led-sec-moved-forward-with-enforcing-crypto-regulation-despite-legal-problems">Gary Gensler-Led SEC Moved Forward With Enforcing Crypto Regulation &#8216;Despite Legal Problems,&#8217; Commissioner Admits In Hearing</a>
Why It Matters: Combs has faced multiple lawsuits alleging sexual misconduct, abuse, and sex trafficking, including from former girlfriend Casandra Ventura. The music mogul has denied the allegations.
Investigations into his behavior resulted in the raid of his properties by federal authorities, including his Beverly Hills mansion, which the <a href="https://www.benzinga.com/real-estate/24/09/40852038/diddy-lists-61-5m-beverly-hills-mansion-the-one-raided-by-homeland-security">celebrity rapper has decided to sell</a>.
Bankman-Fried, incarcerated in the same jail since last year, is <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37988324/sam-bankman-fried-sentenced-to-25-years-judge-points-to-ambition-political-manipulation">serving a 25-year sentence for fraud</a>. He was convicted of misappropriating funds from his FTX cryptocurrency exchange customers, using the money for personal expenses, political contributions, and venture capital investments.
The exchange&#8217;s collapse precipitated the cryptocurrency winter, causing Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and the broader market to hit new depths.
In a fresh development, his accomplice and rumored love interest Caroline Ellison <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41014040/from-ceo-to-inmate-caroline-ellison-sentenced-to-24-months-in-ftx-case-what-the-industry-m">was handed a 2-year jail sentence</a> by a Manhattan federal court. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41002453/if-you-invested-1-000-in-bitcoin-when-jamie-dimon-said-he-would-fire-employees-in-a-second?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1,000 In Bitcoin When Jamie Dimon Said He Would Fire Employees &#8216;In A Second&#8217; For Holding BTC, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Entertainment

$BTC

Bad Boy For Life Meets Bad Crypto: Diddy And Sam Bankman-Fried Are Reportedly Prison Bunkmates

It&#8217;s a week since the Intelligent Livermore ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIVR#NASDAQ">LIVR</a>), an <a href="https://www.benzinga.com/money/best-etfs">exchange-traded fund </a>that aims to mimic the investment philosophies of prominent investors, debuted, and here&#8217;s a look at how the financial asset has fared and the opportunity it presents for investors.
LIVR&#8217;s Origin? For the unversed, LIVR is the first instrument launched by investment firm Intelligent Alpha floated by Doug Clinton, co-founder and Managing Partner at Deepwater Asset Management. Intelligent Alpha aims to use artificial intelligence technology to zero in on portfolio assets, tapping specifically into three of the most popular large-language models such as OpenAI&#8217;s ChatGPT, Anthropic&#8217;s Claude and Alphabet, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Gemini. 
LIVR has been named after <a href="https://www.benzinga.com/general/11/07/1808727/celebrating-the-life-of-jesse-livermore">famed 20th-century investor Jesse Livermore </a>who is considered the pioneer of day trading. To start with, the LIVR portfolio will focus on opportunities in AI, Latin American equities, Asian equities, renewables and energy, and defensive stocks as selected by the AI investment committee, the firm said.
&#8220;My experience investing in emerging technologies over the last decade makes me believe that large-language AI models will drive a trillion-dollar shift in the asset management industry from traditional passive and active portfolios to AI-powered portfolios," said Clinton in a statement.
The ETF created a unique investment strategy by drawing upon inputs from financial information, public letters, interviews and statements from finance legends such as Warren Buffett and hedge fund managers such as Stanley Druckenmiller and David Tepper, Clinton reportedly <a href="https://fortune.com/2024/09/19/etf-warren-buffett-druckenmiller-tepper-finance-investors/">told</a> Fortune. 
&#8220;They can sort of replicate or pretend to be any investor. That's one of the superpowers of AI,&#8221; he reportedly said. &#8220;You could have it be a super aggressive growth investor, or you could have it be a super value conscious Buffett acolyte.&#8221;
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best AI Stocks</a>
LIVR has an expense ratio of 0.69% and it has $13.8 million in assets under management. The top five holdings of the ETF and each of their portfolio weightings are:
<ul>
<li>PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>): 4.60%</li>
<li>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): 4.55%</li>
<li>Nvidia Corp. (NASDAQ: NVDA): 4.51%</li>
<li>Taiwan Semiconductor Management Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>): 4.41%</li>
<li>Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>): 2.96%</li>
</ul>
Performance: LIVR began trading on the Nasdaq on Wednesday, Sept. 18, starting the session at a net asset value of $25.21 before ending down about 0.6% at $25.05. The ETF largely remained rang-bound around the $25 level and ended Tuesday&#8217;s session up 2.07% at $26.08. Over the past week, the ETF has gained 4.1%, outperforming the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) and the SPDR S&amp;P 500 ETF Trust (NYSE SPY), which are up a little over 3% and 2%, respectively.
During the same time, the Global X Artificial Intelligence &amp; Technology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>) has added a comparable 4.6%.
It&#8217;s still in the early days to assess the success of the ETF. That said, the heavy weighting of AI-levered stocks could keep it on track to perform in line with these stocks. Since the AI bubble is seen to last for three to five years, LIVR could make hay while the sun shines. That said, the Federal Reserve&#8217;s interest rate cut is widely expected to apply brakes on the tech rally.
On Tuesday, LIVR added 2.07% before ending at $26.08, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/24/09/41015886/ai-chatbot-to-give-stock-picking-advice-how-does-ai-perform-in-the-markets">AI Chatbot To Give Stock-Picking Advice: How Does AI Perform In The Markets?</a></li>
</ul>
Image via Shutterstock

Fintech news covering the emerging Financial Technology services sector

Fintech

Specialty ETFs

ETFs

GOOG

GOOGL

LIVR

Did Aping Warren Buffett And Hedge Fund Managers Bring Success To This AI-Powered ETF That Launched Last Week?

Palo Alto Networks' price target raised, CrowdStrike slashed at Susquehanna

Okta, Inc. ($OKTA), a global leader in cloud-based identity management solutions, has lost more than 20% of its market value since Aug. 29 despite ...

Short-Term Headwinds Shadow Okta's (NASDAQ:OKTA) Bright Prospects

Okta, Inc. (OKTA) Citi's 2024 Global TMT Conference (Transcript)

Datadog (DDOG) reported mixed financial results in the second quarter of 2024. While the cloud-based monitoring and analytics platform operator's long-term outlook appears bright with strategic investments and innovations, it faces mixed analysts' expectations and rigid competition. So, should you buy or hold this stock? Read more to find out... Datadog, Inc. (<a href="https://stocknews.com/stock/DDOG/">DDOG</a>) is an operator of an observability and security platform for cloud applications. It offers a wide range of products, including infrastructure and application performance monitoring, log management, digital experience monitoring, and database monitoring.
The company easily beat the analysts' estimates in the last reported quarter. It reported second-quarter revenue of $645.28 million, exceeding analysts' expectations of $625.10 million. Its EPS came in at $0.43, compared to the consensus estimate of $0.36.
During the second quarter, Datadog introduced various new products and capabilities like Datadog Kubernetes Autoscaling and Log Workspaces. The company continued its efforts of delivering innovations to cater to the customers and help them observe their environments, secure their infrastructures and workloads, and take necessary measures to remediate problems actively.
Olivier Pomel, co-founder and CEO of Datadog, commented, "Datadog executed well in the second quarter, with 27% year-over-year revenue growth, continued customer growth, and expanding multi-product adoption across our platform."
Datadog holds strong leadership in cloud monitoring and analytics in the cloud computing segment. The segment refers to the on-demand seamless access of computing resources consisting of servers, storage, databases, networking, software, analytics, and intelligence over the Internet.
However, DDOG competes with other leading cloud computing-centric companies driven by AI. These include Domo Inc. (<a href="https://stocknews.com/stock/DOMO/">DOMO</a>), Okta Inc. (<a href="https://stocknews.com/stock/OKTA/">OKTA</a>), Olo Inc. (<a href="https://stocknews.com/stock/OLO/">OLO</a>), and Workday Inc. (<a href="https://stocknews.com/stock/WDAY/">WDAY</a>), which are set to deliver significant returns in the mid to long term. This can result in compromised profitability for DDOG as companies strive to leverage AI and enhance their capabilities and offerings
As per the company's third-quarter 2024 outlook, DDOG expects revenue between $660 million and $664 million. Its non-GAAP operating income is anticipated to be $146 million - $150 million, while non-GAAP net income per share is set to be $0.38 to $0.40.
For the full year 2024, Datadog's revenue is expected to range from $2.62 billion to $2.63 billion. The company's non-GAAP operating income is expected to be between $620 million and $630 million. And non-GAAP net income per share is projected to be $1.62 - $1.66.
Shares of DDOG have gained 8% over the past month and 12.3% over the past year to close its last trading session at $110.09. However, the stock has declined 10.9% over the past six months.
Let's look at factors that could influence DDOG's performance in the upcoming months.
Positive Recent Developments
On June 26, DDOG unveiled Datadog Kubernetes Autoscaling, a set of capabilities that intelligently automates resource optimization and automatically scales customers' Kubernetes environments based on real-time and historical utilization metrics. This made DDOG the first observability vendor to offer its customers to make changes to their Kubernetes environments.
Also, on the same day, the company launched Log Workspaces, a suite of capabilities in a powerful, collaborative space enabling analysts and engineers from all teams in an organization to connect logs and other datasets and build multi-stage queries to answer complex questions on business, security and application issues of sophisticated analytics.
Datadog also announced new additions to its security product portfolio, including Agentless Scanning, Data Security, and Code Security, allowing DevOps and security teams to easily secure their code, cloud environments, and production applications.
Mixed Financials
For the second quarter that ended June 30, 2024, DDOG's revenue increased 26.6% year-over-year to $645.28 million. However, its cost of revenue also increased 21.3% year-over-year to $123.50 million. The company's non-GAAP <a href="https://www.investopedia.com/terms/g/grossprofit.asp#:~:text=Gross%20profit%2C%20or%20gross%20income,fluctuate%20compared%20to%20production%20output.">gross profit</a> grew 27.9% from the year-ago value to $529.52 million, while the non-GAAP operating income of $157.54 million reflects an increase of 48% from the prior year's quarter.
Furthermore, the company's non-GAAP net income after non-GAAP tax adjustments came in at $152.96 million and $0.43 per share, up 50.8% and 48.3% year-over-year, respectively. Also, its free cash flow increased 1.4% year-over-year to $143.78 million.
However, the company's total liabilities stood at $2.01 billion as of June 30, 2024, compared to $1.91 billion as of December 31, 2023.
Favorable Historical Growth
DDOG's revenue grew at a CAGR of 46.3% over the past three years. Its tangible book value increased at a CAGR of 47.2% over the same period, while the company's total assets grew at a CAGR of 28.6% over the same time frame.
However, the company's levered free cash flow increased at a CAGR of 81.2% over the same timeframe.
Mixed Analyst Estimates
Analysts expect DDOG's revenue for the third quarter (ending September 2024) to come in at $664.75 million, indicating an increase of 21.4% year-over-year. However, its consensus EPS estimate of $0.40 for the same period reflects a 12.1% year-over-year decline. The company has surpassed the consensus revenue and EPS estimates in all of the trailing four quarters.
Further, for the fiscal year 2024, the company's revenue and EPS are anticipated to grow 23.7% and 26.8% year-over-year to $2.63 billion and $1.67, respectively. In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 22.3% and 16.1% from the prior year to $3.22 billion and $1.94, respectively.
Elevated Valuation
In terms of forward EV/Sales, DDOG is currently trading at 13.34x, 380.6% higher than the industry average of 2.78x. The stock's forward non-GAAP P/E and Price/Sales of 65.75x and 14.10x are considerably higher than the industry average of 22.90x and 2.77x, respectively.
Additionally, the stock's forward EV/EBITDA and Price/Book of 52.02x and 14.18x are 271.4% and 251.6% higher than the industry averages of 14.01x and 4.03x, respectively.
POWR Ratings Reflect Uncertainty
DDOG's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, translating to a Neutral in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. DDOG has an A grade for Growth, in sync with its favorable historical growth.
However, the stock has a D grade for Value and Stability, consistent with its elevated valuation and mixed analysts' estimates.
DDOG is ranked #17 among the 39 stocks in the <a href="https://stocknews.com/category/software-business/">Software - Business</a> industry.
Beyond what I have stated above, we have also given DDOG grades for Momentum, Sentiment, and Quality. Get access to all the DDOG ratings <a href="https://stocknews.com/stock/DDOG/">here</a>.
Bottom Line
DDOG reported mixed financial results in the last reported quarter. Further, the company's long-term prospects appear promising, driven by its strategic investments and continuous innovations. However, it continues to grapple with increasing cost of expenses and rising competition from its peers.
Given DDOG's mixed financials and elevated valuation, waiting for a better entry point in this stock seems prudent.
Stocks to Consider Instead of Datadog, Inc. (DDOG)
Given its near-term uncertain prospects, the odds of DDOG outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these A (Strong Buy) or B (Buy) stocks from the <a href="https://stocknews.com/category/software-business/">Software - Business</a> industry instead:
SolarWinds Corporation (<a href="https://stocknews.com/stock/SWI/">SWI</a>)
VMware Inc. (<a href="https://stocknews.com/stock/VMW/">VMW</a>)
RingCentral Inc. Cl A (<a href="https://stocknews.com/stock/RNG/">RNG</a>)
For exploring more A and B-rated software stocks, <a href="https://stocknews.com/category/software-business/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
DDOG shares were trading at $107.20 per share on Friday afternoon, down $2.89 (-2.63%). Year-to-date, DDOG has declined -11.68%, versus a 14.42% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/ddog-swi-vmw-rng-domo-okta-olo-wday-with-ai-powered-analytics-is-datadog-ddog-a-stock-to-watch/>With AI-Powered Analytics, Is Datadog (DDOG) a Stock to Watch?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

With AI-Powered Analytics, Is Datadog (DDOG) a Stock to Watch?

Tracking George Soros's 13F Portfolio - Q2 2024 Update

Okta, Inc. (OKTA) CEO Todd McKinnon presents at Goldman Sachs Communacopia + Technology Conference (Transcript)

Proof Of Life - Maintaining Okta With A Buy

Fidelity Select Technology Portfolio Q2 2024 Review

The cloud computing market offers a promising investment opportunity due to growing digital transformation, rising infrastructure spending, and AI adoption, along with the demand for cloud's cost efficiency, security, and scalability. Therefore, it could be wise to keep an eye on strong cloud computing stocks like Oracle (ORCL), ServiceNow (NOW), and Okta (OKTA) in the digital economy. Read on... Cloud computing plays a critical role in the modern economy by enabling businesses to scale, innovate, and streamline operations through agility and cost-efficiency. Companies leveraging cloud solutions are set to thrive as demand for digital transformation grows across sectors, creating lucrative investment opportunities.
Hence, investors should consider watching robust cloud computing stocks like Oracle Corporation (<a href="https://stocknews.com/stock/ORCL/">ORCL</a>), ServiceNow, Inc. (<a href="https://stocknews.com/stock/NOW/">NOW</a>), and Okta, Inc. (<a href="https://stocknews.com/stock/OKTA/">OKTA</a>) in the digital economy.
Cloud computing has revolutionized identity management and security, automating enterprise services worldwide. Thanks to software applications, business operations have been streamlined through storage, databases, and cybersecurity innovations. As a result, the software market is projected to grow at a <a href="https://www.statista.com/outlook/tmo/software/worldwide">5.3% CAGR</a> from 2024 to 2028, reaching $858.10 billion.
According to IDC, cloud infrastructure spending is projected to grow at a double-digit rate, reaching <a href="https://www.idc.com/getdoc.jsp?containerId=prUS52398324">$213.7 billion by 2028</a>, highlighting cloud's increasing significance. As cloud reliance intensifies, software security becomes crucial for protecting systems, managing access control, and defending against threats. The security software market is expected to grow at <a href="https://www.maximizemarketresearch.com/market-report/global-security-software-market/23958/">13.9% from 2024 to 2030</a>, reaching nearly $58.6 billion.
Hence, with the increasing focus on cloud computing for efficient data management and workflow optimization, there is growing optimism in the cloud computing market. Now, let's take a closer look at the fundamentals of the cloud computing stocks mentioned above.
Oracle Corporation (<a href="https://stocknews.com/stock/ORCL/">ORCL</a>)
ORCL offers products and services that address enterprise information technology environments worldwide. The company provides cloud software applications, cloud-based industry solutions, application licenses, infrastructure technologies, databases, Java, middleware, hardware products, and consulting and customer services.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF</a> margin, ORCL's 19.21% is 84.6% higher than the 10.41% industry average. Likewise, the stock's 30.45% trailing-12-month EBIT margin is 511.9% higher than the 4.98% industry average. Also, the stock's 20.40% trailing-12-month net income margin is 436% higher than the 3.81% industry average.
For the fiscal first quarter ended August 31, 2024, ORCL's total revenues increased 6.9% year-over-year to $13.31 billion. Likewise, its operating income was $3.99 billion, up 21.1% from the year-ago value. Furthermore, its net income and EPS stood at $2.93 billion and $1.03, respectively, representing increases of 21% and 19.8% over the prior-year quarter.
Street expects ORCL's revenue and EPS for the quarter ending November 30, 2024, to increase 9% and 10.3% year-over-year to $14.10 billion and $1.48, respectively. It surpassed the consensus EPS estimates in three of the trailing four quarters. The stock has gained 53% year-to-date to close the last trading session at $161.31.
ORCL's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect strong prospects. It has an overall rating of B, translating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #25 out of 125 stocks in the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry. It has an A grade for Sentiment and a B for Stability and Growth. <a href="https://stocknews.com/stock/ORCL/">Click here</a> to see ORCL's Growth, Value, and Momentum ratings.
ServiceNow, Inc. (<a href="https://stocknews.com/stock/NOW/">NOW</a>)
NOW provides enterprise cloud computing solutions that define, structure, consolidate, manage, and automate services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, data benchmarking, encryption, etc.
On September 10, 2024, NOW announced the integration of Agentic AI into its platform to enhance 24/7 productivity across IT, customer service, HR, and more. The new AI agents will use advanced reasoning for deep contextual understanding, while the NOW's Assist Skill Kit will allow organizations to build and deploy custom GenAI skills.
On July 24, 2024, NOW and Boomi announced a partnership to enhance customer experiences through AI-driven self-service solutions. Boomi will use NOW's platform to streamline support and self-service, while ServiceNow will integrate Boomi's API Management capabilities for better API visibility and governance.
In terms of the trailing-12-month net income margin, NOW's 11.51% is 202.5% higher than the 3.81% industry average. Its 6.29% trailing-12-month Return on Total Assets is 203.3% higher than the 2.08% industry average. Also, its 7.98% trailing-12-month Capex / Sales is 278.8% higher than the industry average of 2.11%.
During the second quarter ended June 30, 2024, NOW's non-GAAP total revenues rose 22.5% year-over-year to $2.64 billion. Its non-GAAP gross profit rose 23.1% from the year-ago quarter to $2.17 billion. Its non-GAAP net income rose 34% year-over-year to $651 million. Also, the company's non-GAAP earnings per share came in at $3.13, representing an increase of 32.1% year-over-year.
Analysts expect NOW's EPS for the quarter ending September 30, 2024, to increase 18.2% year-over-year to $3.45. Its revenue for the same quarter is expected to grow 20% year-over-year to $2.75 billion. It surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 44.8% to close the last trading session at $877.57.
NOW's positive outlook is reflected in its POWR Ratings. It is ranked #15 out of 39 stocks in the B-rated <a href="Software%20-%20Business">Software – Business</a> industry. It has a B grade for Growth, Sentiment, and Quality. To see NOW's Value, Momentum, and Stability ratings, <a href="https://stocknews.com/stock/NOW/">click here</a>.
Okta, Inc. (<a href="https://stocknews.com/stock/OKTA/">OKTA</a>)
OKTA operates internationally as an identity partner. The company offers a suite of products and services for managing and securing identities, including Single Sign-On, Adaptive Multi-Factor Authentication, API Access Management, Access Gateway, and Okta Device Access.
In terms of the trailing-12-month levered FCF margin, OKTA's 31.19% is 199.7% higher than the 10.41% industry average. Similarly, its 75.82% trailing-12-month gross profit margin is 53% higher than the industry average of 49.56%.
In the second quarter that ended on July 31, 2024, OKTA's total revenues rose 16.2% year-over-year to $646 million. The company's non-GAAP gross profit increased 18.9% from the year-ago value to $528 million. For the same quarter, OKTA's non-GAAP net income was $131 million, or $0.72 per share, marking increases of 133.9% and 132.3% over the previous year's quarter, respectively.
For the quarter ending October 31, 2024, OKTA's revenue and EPS are expected to increase 11.2% and 32.7% year-over-year to $649.65 million and $0.58, respectively. OKTA surpassed the Street EPS estimates in each of the trailing four quarters. Over the past nine months, the stock has gained 3.9% to close the last trading session at $73.58.
OKTA's strong fundamentals are reflected in its POWR Ratings. It has a B grade for Growth. Within the <a href="https://stocknews.com/category/software-security/">Software – Security</a> industry, it is ranked #9 out of 23 stocks. To access the additional POWR Ratings for OKTA for Value, Momentum, Stability, Sentiment, and Quality, <a href="https://stocknews.com/stock/OKTA/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
ORCL shares were trading at $161.45 per share on Thursday afternoon, up $4.27 (+2.72%). Year-to-date, ORCL has gained 54.66%, versus a 18.28% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/orcl-now-okta-3-cloud-computing-stocks-to-watch-in-the-digital-economy/>3 Cloud Computing Stocks to Watch in the Digital Economy</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Cloud Computing Stocks to Watch in the Digital Economy

In a report released today, Joseph Gallo from Jefferies maintained a Hold rating on Okta (OKTA – Research Report), with a price target of $85.00. T...

Jefferies Remains a Hold on Okta (OKTA)

AAPL

ARMK

AVGO

AXNX

AZNCF

BABA

BABAF

BIDU

BKNG

CBOE

CFLT

COST

CRWD

DDOG

DOMO

FBCG

FBCV

FBND

FBTC

FCLD

FCOM

FCOR

FCPI

FDHY

FDIG

FDIS

FDLO

FDMO

FDRR

FDVV

FENY

FETH

FHLC

FIDI

FIDU

FMAG

FMAT

FMET

FNCL

FQAL

FREL

FSMD

FSTA

FTEC

FUTY

FVAL

JDCMF

LBRDA

LBRDB

LBRDK

LBRDP

MRVL

MSFT

NONOF

NXPI

ONEQ

ORCL

PANW

RIVN

SHOP

SRCL

UBER

WDAY

Press Releases

Okta to Present at Upcoming Investor Conference

Okta Names Anthony Bates to Board of Directors

Okta Sponsors Firstboard.io to Support Talent Diversification at the Highest Levels

Okta Announces SaaS Startup Competition to Build New Identity Security Applications

HiHello Welcomes Industry Leaders Shana Simmons and Eugenio Pace to Board of Directors

Okta to Announce Second Quarter Fiscal Year 2025 Financial Results on August 28, 2024

AI-Driven Cybersecurity Solutions: Innovations Shaping the Future of Data Protection

Okta Announces Second Quarter Fiscal Year 2025 Financial Results

Okta to Present at Upcoming Investor Conferences

Auth0 Takes "Free for Developers" to a New Level with More Users, More Security, Free MFA & Passwordless

Top Stock Ideas Sent Daily — Join and Gain Your Edge

Top Stock Ideas Sent Daily — Join and Gain Your Edge

Comments

Okta

Okta (OKTA) Forecast

Okta (NASDAQ:OKTA) Stock, Quote.Headers.trade-ideas