Okta, Inc. (NASDAQ:OKTA) Receives Average Rating of “Hold” from Analysts

Shares of Okta, Inc. (NASDAQ:OKTA) have received an average recommendation of “Hold” from the twenty-nine research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $104.43.

Several brokerages have recently commented on OKTA. Citigroup lowered their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Company lowered their price objective on Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Okta in a research report on Thursday, August 29th. The Goldman Sachs Group reduced their target price on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Canaccord Genuity Group reduced their target price on Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, August 29th.

Okta Price Performance

NASDAQ OKTA opened at $77.93 on Friday. The company has a market capitalization of $13.11 billion, a PE ratio of -46.66, a price-to-earnings-growth ratio of 25.46 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The business’s fifty day moving average is $81.62 and its 200 day moving average is $90.46. Okta has a fifty-two week low of $65.04 and a fifty-two week high of $114.50.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Sell-side analysts predict that Okta will post 0.12 earnings per share for the current year.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 200,512 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the sale, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Todd Mckinnon sold 200,512 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the sale, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 26,618 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total value of $2,669,519.22. The disclosure for this sale can be found here. Insiders sold 540,439 shares of company stock valued at $46,557,801 in the last quarter. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKTA. Future Financial Wealth Managment LLC purchased a new position in shares of Okta during the 3rd quarter valued at about $26,000. City State Bank raised its stake in shares of Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after buying an additional 142 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Okta during the 2nd quarter valued at about $47,000. Finally, nVerses Capital LLC purchased a new position in shares of Okta during the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.