The price of Okta Inc. (NASDAQ:OKTA) shares last traded on Wall Street rose 5.77% to $50.74.
Based on available information, 33 analysts follow Okta Inc. (NASDAQ:OKTA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $135.00 and a low of $45.00, we find $70.00. Given the previous closing price of $47.97, this indicates a potential upside of 45.92 percent. OKTA stock price is now -5.71% away from the 50-day moving average and -50.15% away from the 200-day moving average. The market capitalization of the company currently stands at $7.93B.
Among analysts, 12 rate the stock a hold while 17 rate it a buy. Brokers who have rated the stock have averaged $78.14 as their price target over the next twelve months.
With the price target maintained at $65, Guggenheim recently Upgraded its rating from Neutral to Buy for Okta Inc. (NASDAQ: OKTA). On November 02, 2022, Macquarie recently initiated its ‘Neutral’ rating on the stock quoting a target price of $60, while ‘Robert W. Baird’ rates the stock as ‘Outperform’.
In other news, Kerrest Jacques Frederic, Director sold 18,729 shares of the company’s stock on Nov 03. The stock was sold for $920,556 at an average price of $49.15. Upon completion of the transaction, the Director now directly owns 100 shares in the company, valued at $5074.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 16, Kerrest Jacques Frederic sold 2,482 shares of the business’s stock. A total of $147,414 was realized by selling the stock at an average price of $59.39. This leaves the insider owning 17,544 shares of the company worth $0.89 million. Insiders disposed of 80,917 shares of company stock worth roughly $4.11 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OKTA stock. A new stake in Okta Inc. shares was purchased by WESTFIELD CAPITAL MANAGEMENT CO LP during the first quarter worth $36,987,000. KEENAN CAPITAL, LLC invested $34,503,000 in shares of OKTA during the first quarter. In the first quarter, HOLOCENE ADVISORS, LP acquired a new stake in Okta Inc. valued at approximately $31,392,000. ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in OKTA for approximately $29,261,000. ARDEVORA ASSET MANAGEMENT LLP purchased a new stake in OKTA valued at around $19,880,000 in the second quarter. In total, there are 886 active investors with 81.50% ownership of the company’s stock.
A candlestick chart of Okta Inc. (NASDAQ: OKTA) showed a price of $48.31 on Wednesday morning. During the past 12 months, Okta Inc. has had a low of $44.12 and a high of $244.18. As of last week, the company has a debt-to-equity ratio of 0.40, a current ratio of 2.40, and a quick ratio of 2.40. The fifty day moving average price for OKTA is $53.61 and a two-hundred day moving average price translates $101.09 for the stock.
The latest earnings results from Okta Inc. (NASDAQ: OKTA) was released for Jul, 2022. According to the Software – Infrastructure Company, earnings per share came in at -$0.1, beating analysts’ expectations of -$0.3 by 0.2. This compares to -$1.83 EPS in the same period last year. The net profit margin was -57.20% and return on equity was -16.00% for OKTA. The company reported revenue of $451.81 million for the quarter, compared to $315.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 43.2 percent. For the current quarter, analysts expect OKTA to generate $465.42M in revenue.
Okta Inc.(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. It also provides Auth0 products, including Universal Login that allows customers to provide login experience across different applications and devices; Attack Protection, a suite of security capabilities that protect from malicious traffics; Adaptive Multi-Factor Authentication that minimizes friction to end users; Passwordless authentication enables users to login without a password and supports in various login methods; Machine to Machine provides standards-based authentication and authorization; private Cloud that allows customers to run a dedicated cloud instance of Auth0; and Organizations that enables customers to independent configurations, login experiences, and security options. It offers customer support, training, and professional services. It sells its products directly to customers through sales force and channel partners. The company was formerly known as Saasure, Inc. Okta, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.