Okta (NASDAQ:OKTA) Price Target Raised to $95.00 at Susquehanna

Okta (NASDAQ:OKTA) had its price target lifted by Susquehanna from $85.00 to $95.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 16.26% from the company’s current price.

Several other brokerages have also recently weighed in on OKTA. Canaccord Genuity Group lowered their target price on Okta from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 18th. Royal Bank of Canada lowered their target price on Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group boosted their price target on Okta from $85.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday. Scotiabank reduced their price target on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup dropped their price target on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $101.10.

Okta Price Performance

OKTA opened at $81.71 on Wednesday. The business has a fifty day moving average of $75.15 and a 200 day moving average of $84.27. Okta has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The stock has a market cap of $13.88 billion, a P/E ratio of -97.27, a PEG ratio of 19.79 and a beta of 1.00.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the transaction, the executive now owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. The trade was a 40.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the business’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 transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. This trade represents a 95.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock valued at $35,701,361 over the last ninety days. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Caprock Group LLC raised its holdings in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after buying an additional 129 shares during the period. National Bank of Canada FI boosted its position in shares of Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the period. CWM LLC boosted its position in shares of Okta by 5.3% in the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after purchasing an additional 147 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in shares of Okta by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after purchasing an additional 182 shares during the period. 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.