Okta, Inc. (NASDAQ:OKTA) Receives $105.58 Average PT from Brokerages

Shares of Okta, Inc. (NASDAQ:OKTA) have received an average recommendation of “Hold” from the thirty-one brokerages that are covering the stock, Marketbeat Ratings reports. Nineteen analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $105.58.

Several equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $130.00 price target on shares of Okta in a research report on Thursday, May 30th. Mizuho boosted their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Wedbush reiterated an “outperform” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, May 29th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Okta in a research note on Monday, June 17th. Finally, Guggenheim reissued a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Tuesday, June 25th.

Okta Price Performance

OKTA stock opened at $93.61 on Friday. Okta has a one year low of $65.04 and a one year high of $114.50. The company’s fifty day moving average price is $93.41 and its 200-day moving average price is $92.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $15.75 billion, a PE ratio of -56.05 and a beta of 1.03.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.27. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. The firm had revenue of $617.00 million for the quarter, compared to the consensus estimate of $604.33 million. On average, equities analysts anticipate that Okta will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 1,552 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.00% of the stock is currently owned by insiders.

Institutional Trading of Okta

A number of hedge funds and other institutional investors have recently modified their holdings of the business. City State Bank grew its position in Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC acquired a new position in Okta in the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 142 shares in the last quarter. Venturi Wealth Management LLC grew its position in Okta by 50.4% in the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after acquiring an additional 131 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Okta in the 4th quarter valued at about $48,000. 86.64% of the stock is owned by institutional investors and hedge funds.

About Okta

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.