The price of Okta Inc (NASDAQ:OKTA) shares last traded on Wall Street fell -8.14% to $69.42.
Based on available information, 43 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 $120.00 and a low of $64.00, we find $95.00. Given the previous closing price of $75.57, this indicates a potential upside of 25.71 percent. OKTA stock price is now -13.59% away from the 50-day moving average and -9.28% away from the 200-day moving average. The market capitalization of the company currently stands at $11.39B.
Among analysts, 16 rate the stock a hold while 23 rate it a buy. Brokers who have rated the stock have averaged $94.48 as their price target over the next twelve months.
With the price target enhanced from $65 to $75, Evercore ISI Upgraded its rating from Underperform to In-line for Okta Inc (NASDAQ: OKTA).
In other news, Schwartz Larissa, insider sold 3,578 shares of the company’s stock on Oct 13. The stock was sold for $304,237 at an average price of $85.03. Upon completion of the transaction, the insider now directly owns 23,811 shares in the company, valued at $1.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 18, Chief Executive Officer McKinnon Todd sold 7,471 shares of the business’s stock. A total of $620,147 was realized by selling the stock at an average price of $83.01. This leaves the insider owning 35,641 shares of the company worth $2.47 million. Insiders disposed of 11,620 shares of company stock worth roughly $0.81 million over the past 1 year. A total of 6.69% 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 ALYESKA INVESTMENT GROUP, L.P. during the first quarter worth $84,578,000. SQUAREPOINT OPS LLC invested $39,726,000 in shares of OKTA during the first quarter. In the first quarter, OPTIMUS PRIME FUND MANAGEMENT CO., LTD. acquired a new stake in Okta Inc valued at approximately $33,322,000. ION ASSET MANAGEMENT LTD. acquired a new stake in OKTA for approximately $14,995,000. ROKOS CAPITAL MANAGEMENT LLP purchased a new stake in OKTA valued at around $13,937,000 in the second quarter. In total, there are 903 active investors with 77.39% ownership of the company’s stock.
A candlestick chart of Okta Inc (NASDAQ: OKTA) showed a price of $69.30 on Monday morning. During the past 12 months, Okta Inc has had a low of $44.12 and a high of $91.50. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 1.78, and a quick ratio of 1.78. The fifty day moving average price for OKTA is $80.34 and a two-hundred day moving average price translates $76.52 for the stock.
The latest earnings results from Okta Inc (NASDAQ: OKTA) was released for Jul, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.31, beating analysts’ expectations of $0.22 by 0.09. This compares to -$1.33 EPS in the same period last year. The net profit margin was -28.66% and return on equity was -10.67% for OKTA. The company reported revenue of $556.0 million for the quarter, compared to $452.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.01 percent. For the current quarter, analysts expect OKTA to generate $560.83M 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’s, a suite of products and services is used to manage and secure identities, 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 enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions. It also provides Universal Login 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 Customer Identity Cloud; In addition, the company provides organization; Actions and Extensibility; and Enterprise Connections. 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.
