KeyCorp Increases Okta (NASDAQ:OKTA) Price Target to $80.00

Okta (NASDAQ:OKTAGet Rating) had its target price hoisted by stock analysts at KeyCorp from $72.00 to $80.00 in a research note issued on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 18.22% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Cowen started coverage on shares of Okta in a report on Tuesday, December 13th. They set a “market perform” rating and a $70.00 price objective for the company. Piper Sandler boosted their price objective on shares of Okta from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, January 5th. DA Davidson boosted their price objective on shares of Okta from $45.00 to $60.00 in a report on Thursday, December 1st. BMO Capital Markets boosted their price objective on shares of Okta from $58.00 to $69.00 in a report on Thursday, December 1st. Finally, Moffett Nathanson started coverage on shares of Okta in a report on Thursday, September 22nd. They set a “sell” rating and a $71.00 price objective for the company. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.35.

Okta Trading Down 1.3 %

Shares of NASDAQ OKTA opened at $67.67 on Wednesday. The firm’s 50 day moving average price is $62.58 and its 200-day moving average price is $71.13. The company has a market cap of $10.84 billion, a PE ratio of -11.71 and a beta of 1.05. Okta has a 52-week low of $44.12 and a 52-week high of $210.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.30 and a current ratio of 2.30.

Okta (NASDAQ:OKTAGet Rating) last issued its earnings results on Wednesday, November 30th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.25. The firm had revenue of $481.04 million for the quarter, compared to the consensus estimate of $463.62 million. Okta had a negative net margin of 52.19% and a negative return on equity of 13.61%. On average, equities research analysts expect that Okta will post -4.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 18,729 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $49.15, for a total transaction of $920,530.35. Following the completion of the transaction, the director now owns 100 shares in the company, valued at $4,915. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jacques Frederic Kerrest sold 18,729 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $49.15, for a total transaction of $920,530.35. Following the completion of the transaction, the director now owns 100 shares in the company, valued at $4,915. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 3,771 shares of the stock in a transaction on Friday, December 16th. The shares were sold at an average price of $67.41, for a total transaction of $254,203.11. Following the transaction, the chief executive officer now owns 18,662 shares of the company’s stock, valued at approximately $1,258,005.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,679 shares of company stock worth $1,726,103. 7.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

Several institutional investors have recently bought and sold shares of the business. Quent Capital LLC lifted its position in Okta by 126.0% during the fourth quarter. Quent Capital LLC now owns 2,341 shares of the company’s stock valued at $160,000 after purchasing an additional 1,305 shares during the last quarter. Johnson & White Wealth Management LLC bought a new position in Okta during the fourth quarter valued at $710,000. Maryland State Retirement & Pension System bought a new position in Okta during the fourth quarter valued at $790,000. Diversified Trust Co lifted its position in Okta by 22.7% during the fourth quarter. Diversified Trust Co now owns 14,961 shares of the company’s stock valued at $1,022,000 after purchasing an additional 2,763 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Okta by 3,773.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 522,448 shares of the company’s stock worth $35,699,000 after acquiring an additional 508,959 shares during the last quarter. Institutional investors own 73.02% of the company’s stock.

Okta Company Profile

(Get Rating)

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.

Recommended Stories

The Fly logo

Analyst Recommendations for Okta (NASDAQ:OKTA)

Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.