Okta, Inc. (OKTA) Research Coverage Started at William Blair
Equities research analysts at William Blair initiated coverage on shares of Okta, Inc. (NASDAQ:OKTA) in a report issued on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the stock.
Several other brokerages also recently issued reports on OKTA. Zacks Investment Research raised shares of Okta from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, September 14th. Canaccord Genuity reissued a “hold” rating and set a $27.00 price objective on shares of Okta in a research note on Friday, June 9th. KeyCorp reissued a “buy” rating and set a $35.00 price objective on shares of Okta in a research note on Friday, September 8th. Finally, Pacific Crest restated an “outperform” rating and set a $32.00 price objective on shares of Okta in a research report on Monday, June 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Okta has an average rating of “Buy” and an average price target of $32.20.
Okta (OKTA) traded down 3.46% during trading on Wednesday, reaching $27.04. The company’s stock had a trading volume of 7,341,070 shares. The company has a 50 day moving average price of $27.32 and a 200-day moving average price of $24.91. Okta has a 52 week low of $21.52 and a 52 week high of $33.64. The company’s market capitalization is $520.84 million.
Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, September 7th. The company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.03). The company had revenue of $61.00 million for the quarter, compared to analysts’ expectations of $55.90 million. The business’s revenue was up 63.1% compared to the same quarter last year. Equities research analysts anticipate that Okta will post ($0.96) earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. Glynn Capital Management LLC acquired a new position in Okta in the 2nd quarter valued at about $45,855,000. FMR LLC purchased a new position in Okta in the 2nd quarter valued at about $23,135,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Okta in the 2nd quarter valued at about $23,054,000. JPMorgan Chase & Co. purchased a new position in Okta in the 2nd quarter valued at about $21,855,000. Finally, Vanguard Group Inc. purchased a new position in Okta in the 2nd quarter valued at about $21,749,000. Hedge funds and other institutional investors own 15.03% of the company’s stock.
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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