Shares of Okta, Inc. (NASDAQ:OKTA – Get Rating) have earned an average rating of “Hold” from the thirty-six analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $80.47.
Several analysts have weighed in on OKTA shares. BTIG Research cut their price objective on Okta from $117.00 to $80.00 in a research report on Wednesday, November 2nd. Truist Financial decreased their price objective on shares of Okta from $70.00 to $60.00 in a report on Thursday, November 10th. Scotiabank began coverage on shares of Okta in a research note on Wednesday. They set an “outperform” rating and a $90.00 target price for the company. Canaccord Genuity Group reduced their price objective on Okta from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Monday, November 14th. Finally, Sumitomo Mitsui Financial Group initiated coverage on shares of Okta in a report on Wednesday, January 4th. They issued an “outperform” rating and a $90.00 target price for the company.
Insider Activity at Okta
In other news, Director Jacques Frederic Kerrest sold 18,729 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $49.15, for a total transaction of $920,530.35. Following the sale, the director now owns 100 shares in the company, valued at $4,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jacques Frederic Kerrest sold 18,729 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $49.15, for a total transaction of $920,530.35. Following the sale, the director now owns 100 shares of the company’s stock, valued at $4,915. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ledger Susan St. sold 2,504 shares of Okta stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $67.41, for a total value of $168,794.64. Following the completion of the sale, the insider now directly owns 67,298 shares in the company, valued at approximately $4,536,558.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,679 shares of company stock worth $1,726,103. 7.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Okta
Okta Stock Down 1.3 %
Shares of NASDAQ:OKTA opened at $67.67 on Friday. Okta has a 1 year low of $44.12 and a 1 year high of $210.41. The company has a market cap of $10.84 billion, a PE ratio of -11.71 and a beta of 1.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.30 and a quick ratio of 2.30. The stock’s 50-day moving average is $62.58 and its 200 day moving average is $71.13.
Okta (NASDAQ:OKTA – Get Rating) last posted its quarterly earnings data on Wednesday, November 30th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.34) by $0.25. The business had revenue of $481.04 million for the quarter, compared to analysts’ expectations of $463.62 million. Okta had a negative return on equity of 13.61% and a negative net margin of 52.19%. Sell-side analysts anticipate that Okta will post -4.48 EPS for the current year.
Okta Company Profile
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.
- Get a free copy of the StockNews.com research report on Okta (OKTA)
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