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

Okta, Inc. (NASDAQ:OKTA) has earned a consensus recommendation of “Hold” from the twenty-nine research firms that are currently covering the firm, Marketbeat reports. One research 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 covered the stock in the last year is $104.43.

Several equities research analysts recently commented on the company. Jefferies Financial Group reduced their price objective on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, September 24th. Wells Fargo & Company cut their price target on Okta from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. DA Davidson cut their price target on Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America downgraded Okta from a “buy” rating to an “underperform” rating and cut their price target for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. Finally, Robert W. Baird cut their price target on Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 32,516 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total value of $2,478,369.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 26,618 shares of the company’s stock in a transaction that occurred 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. In the last three months, insiders have sold 540,439 shares of company stock valued at $46,557,801. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

Several hedge funds have recently modified their holdings of OKTA. City State Bank raised its holdings in 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 period. EverSource Wealth Advisors LLC raised its holdings in 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 period. First Command Advisory Services Inc. purchased a new stake in Okta during the 2nd quarter valued at $47,000. nVerses Capital LLC purchased a new stake in Okta during the 2nd quarter valued at $47,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Okta during the 1st quarter valued at $63,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Price Performance

NASDAQ OKTA opened at $72.31 on Friday. Okta has a one year low of $65.04 and a one year high of $114.50. The stock has a 50-day moving average of $83.08 and a 200 day moving average of $91.31. The company has a market capitalization of $12.16 billion, a price-to-earnings ratio of -43.30, a PEG ratio of 26.02 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.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $632.24 million. On average, sell-side analysts forecast that Okta will post 0.12 EPS for the current year.

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.