Okta Inc (OKTA) Given Consensus Rating of “Buy” by Brokerages

Okta Inc (NASDAQ:OKTA) has received an average recommendation of “Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $33.00.

Several equities research analysts have recently weighed in on OKTA shares. KeyCorp reaffirmed a “buy” rating and issued a $35.00 price target on shares of Okta in a research report on Friday, November 10th. SunTrust Banks started coverage on shares of Okta in a research report on Friday, October 27th. They issued a “buy” rating and a $36.00 price target for the company. Zacks Investment Research cut shares of Okta from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Oppenheimer reiterated a “buy” rating and set a $34.00 price objective on shares of Okta in a research note on Thursday, December 7th. Finally, William Blair began coverage on shares of Okta in a research note on Wednesday, October 4th. They set an “outperform” rating for the company.

Shares of Okta (OKTA) opened at $29.18 on Friday. The stock has a market cap of $3,210.00 and a PE ratio of -25.37. Okta has a 52-week low of $21.52 and a 52-week high of $33.64.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, December 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.05. Okta had a negative net margin of 46.70% and a negative return on equity of 169.65%. analysts anticipate that Okta will post -0.86 EPS for the current year.

In other Okta news, General Counsel Jonathan T. Runyan sold 23,065 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $29.00, for a total transaction of $668,885.00. Following the transaction, the general counsel now owns 23,065 shares in the company, valued at approximately $668,885. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William E. Losch sold 12,200 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $26.48, for a total transaction of $323,056.00. Following the transaction, the chief financial officer now owns 12,200 shares in the company, valued at approximately $323,056. The disclosure for this sale can be found here. Insiders have sold a total of 1,005,271 shares of company stock worth $27,938,146 in the last 90 days.

A number of institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in shares of Okta in the 2nd quarter valued at $101,000. SG Americas Securities LLC purchased a new stake in shares of Okta in the 3rd quarter valued at $128,000. Paulson & CO. Inc. purchased a new stake in shares of Okta in the 2nd quarter valued at $171,000. Invictus RG purchased a new stake in shares of Okta in the 3rd quarter valued at $211,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Okta in the 2nd quarter valued at $219,000. Institutional investors and hedge funds own 13.41% of the company’s stock.

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About Okta

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.

Analyst Recommendations for Okta (NASDAQ:OKTA)

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