Okta, Inc. (NASDAQ:OKTA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Okta, Inc. (NASDAQ:OKTA) have earned a consensus recommendation of “Hold” from the thirty ratings firms that are currently covering the company, Marketbeat.com reports. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $100.39.

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Okta from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Oppenheimer lifted their price objective on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Piper Sandler upped their target price on shares of Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Royal Bank of Canada raised their price target on Okta from $95.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Robert W. Baird upped their price objective on shares of Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th.

Okta Stock Down 1.0 %

OKTA opened at $97.54 on Thursday. Okta has a 52 week low of $65.04 and a 52 week high of $114.50. The business’s fifty day simple moving average is $101.33 and its 200 day simple moving average is $86.96. The firm has a market cap of $16.33 billion, a P/E ratio of -44.95 and a beta of 0.98. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.35. The business had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. As a group, equities research analysts anticipate that Okta will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the transaction, the director now directly owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The disclosure for this sale can be found here. Insiders have sold a total of 11,779 shares of company stock worth $1,205,990 over the last ninety days. Insiders own 7.36% of the company’s stock.

Institutional Trading of Okta

Large investors have recently modified their holdings of the stock. Northern Trust Corp grew its holdings in Okta by 3.0% during the third quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock valued at $77,005,000 after purchasing an additional 27,577 shares during the period. RPG Investment Advisory LLC boosted its position in Okta by 57.2% during the 4th quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock valued at $6,995,000 after buying an additional 28,119 shares during the period. Pearl River Capital LLC grew its holdings in Okta by 643.6% in the 3rd quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock worth $3,422,000 after acquiring an additional 36,336 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Okta by 2,721.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock valued at $15,940,000 after acquiring an additional 169,830 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Okta in the 3rd quarter worth approximately $923,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.