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

Shares of Okta, Inc. (NASDAQ:OKTA) have been given an average recommendation of “Hold” by the thirty-one ratings firms that are presently covering the company, MarketBeat reports. Twenty investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $100.39.

Several analysts have weighed in on the company. Evercore ISI upped their target price on Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Bank of America raised Okta from an “underperform” rating to a “buy” rating and increased their price objective for the company from $64.00 to $135.00 in a research note on Thursday, February 29th. BMO Capital Markets increased their price objective on Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. Finally, Truist Financial reaffirmed a “hold” rating and set a $105.00 price objective (up previously from $85.00) on shares of Okta in a research note on Thursday, February 29th.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 872 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $82.83, for a total value of $72,227.76. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $1,832,613.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now owns 4,111 shares in the company, valued at $428,119.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 872 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $82.83, for a total value of $72,227.76. Following the completion of the sale, the insider now owns 22,125 shares of the company’s stock, valued at approximately $1,832,613.75. The disclosure for this sale can be found here. Insiders have sold a total of 12,651 shares of company stock worth $1,278,218 in the last three months. 7.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Okta

Hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its stake in Okta by 3.0% during the 3rd quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock valued at $77,005,000 after purchasing an additional 27,577 shares in the last quarter. Pearl River Capital LLC grew its stake in Okta by 643.6% during the 3rd quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock valued at $3,422,000 after purchasing an additional 36,336 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Okta by 2,721.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock valued at $15,940,000 after purchasing an additional 169,830 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Okta during the 3rd quarter valued at approximately $923,000. Finally, My Personal CFO LLC grew its stake in Okta by 14.0% during the 4th quarter. My Personal CFO LLC now owns 120,077 shares of the company’s stock valued at $10,871,000 after purchasing an additional 14,753 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Down 2.5 %

Okta stock opened at $98.26 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market capitalization of $16.45 billion, a price-to-earnings ratio of -45.28 and a beta of 1.00. Okta has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The stock’s fifty day moving average is $97.98 and its two-hundred day moving average is $85.42.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.35. The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. Analysts predict that Okta will post -1.51 EPS for the current fiscal 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.