Investment Analysts’ Recent Ratings Updates for Okta (OKTA)

Several analysts have recently updated their ratings and price targets for Okta (NASDAQ: OKTA):

  • 6/9/2022 – Okta was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 6/3/2022 – Okta had its price target raised by analysts at Wells Fargo & Company from $130.00 to $145.00. They now have an “overweight” rating on the stock.
  • 6/3/2022 – Okta had its price target lowered by analysts at Piper Sandler from $270.00 to $150.00. They now have an “overweight” rating on the stock.
  • 6/3/2022 – Okta had its price target lowered by analysts at Oppenheimer Holdings Inc. from $210.00 to $170.00. They now have an “outperform” rating on the stock.
  • 6/3/2022 – Okta had its price target lowered by analysts at Wolfe Research from $135.00 to $128.00. They now have an “outperform” rating on the stock.
  • 6/3/2022 – Okta had its price target lowered by analysts at Robert W. Baird from $195.00 to $125.00. They now have a “neutral” rating on the stock.
  • 6/3/2022 – Okta had its price target lowered by analysts at JMP Securities from $260.00 to $165.00. They now have a “market outperform” rating on the stock.
  • 6/3/2022 – Okta is now covered by analysts at Stephens. They set a “buy” rating and a $145.00 price target on the stock.
  • 6/3/2022 – Okta had its price target raised by analysts at DA Davidson from $125.00 to $140.00. They now have a “buy” rating on the stock.
  • 6/3/2022 – Okta had its price target lowered by analysts at BTIG Research from $216.00 to $152.00. They now have a “buy” rating on the stock.
  • 6/3/2022 – Okta had its price target raised by analysts at Needham & Company LLC from $108.00 to $135.00. They now have a “buy” rating on the stock.
  • 6/3/2022 – Okta had its price target lowered by analysts at Stifel Nicolaus from $195.00 to $115.00.
  • 6/3/2022 – Okta had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $195.00 to $130.00.
  • 6/3/2022 – Okta had its price target raised by analysts at BMO Capital Markets from $108.00 to $125.00.
  • 6/3/2022 – Okta had its price target raised by analysts at Citigroup Inc. from $105.00 to $130.00.
  • 6/2/2022 – Okta had its “buy” rating reaffirmed by analysts at Summit Insights.
  • 5/31/2022 – Okta had its price target lowered by analysts at Citigroup Inc. from $205.00 to $105.00. They now have a “neutral” rating on the stock.
  • 5/31/2022 – Okta had its price target lowered by analysts at Royal Bank of Canada from $260.00 to $145.00.
  • 5/25/2022 – Okta is now covered by analysts at Stephens. They set an “overweight” rating and a $145.00 price target on the stock.
  • 5/18/2022 – Okta had its price target lowered by analysts at Morgan Stanley to $150.00. They now have a “na” rating on the stock.
  • 5/18/2022 – Okta had its price target lowered by analysts at Mizuho from $225.00 to $165.00. They now have a “buy” rating on the stock.
  • 5/17/2022 – Okta was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 5/16/2022 – Okta had its price target lowered by analysts at Wells Fargo & Company from $175.00 to $130.00. They now have a “na” rating on the stock.
  • 5/12/2022 – Okta had its price target lowered by analysts at DA Davidson from $225.00 to $125.00.
  • 5/5/2022 – Okta was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $132.00 price target on the stock. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 5/3/2022 – Okta was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 4/26/2022 – Okta was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 4/20/2022 – Okta was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 4/14/2022 – Okta was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 4/13/2022 – Okta had its price target lowered by analysts at Morgan Stanley from $270.00 to $200.00. They now have an “overweight” rating on the stock.

Shares of Okta stock traded down $5.31 during trading hours on Thursday, hitting $96.88. The company had a trading volume of 79,887 shares, compared to its average volume of 3,929,354. The company’s 50-day moving average is $114.83 and its two-hundred day moving average is $166.08. Okta, Inc. has a twelve month low of $77.01 and a twelve month high of $276.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.45 and a quick ratio of 2.45. The company has a market cap of $15.18 billion, a P/E ratio of -15.16 and a beta of 1.18.

Okta (NASDAQ:OKTAGet Rating) last released its quarterly earnings results on Thursday, June 2nd. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.07. The firm had revenue of $414.94 million during the quarter, compared to the consensus estimate of $388.77 million. Okta had a negative net margin of 67.06% and a negative return on equity of 13.13%. Okta’s revenue for the quarter was up 65.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.59) EPS. Sell-side analysts expect that Okta, Inc. will post -5.55 EPS for the current year.

In other news, CFO Brett Tighe sold 2,858 shares of Okta stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $152.92, for a total transaction of $437,045.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Christopher K. Kramer sold 1,035 shares of Okta stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $152.92, for a total transaction of $158,272.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,537 shares of company stock worth $2,984,147. 7.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of OKTA. Deer Management Co. LLC acquired a new stake in shares of Okta during the fourth quarter worth approximately $614,155,000. Capital Research Global Investors boosted its holdings in Okta by 2,405.2% in the third quarter. Capital Research Global Investors now owns 2,687,145 shares of the company’s stock worth $637,767,000 after purchasing an additional 2,579,882 shares during the period. Norges Bank acquired a new position in Okta in the fourth quarter worth $240,716,000. Atreides Management LP acquired a new position in Okta in the fourth quarter worth $174,716,000. Finally, Janus Henderson Group PLC boosted its holdings in Okta by 240.4% in the third quarter. Janus Henderson Group PLC now owns 864,516 shares of the company’s stock worth $205,184,000 after purchasing an additional 610,573 shares during the period. Institutional investors own 76.18% of the company’s stock.

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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