Okta (NASDAQ:OKTA) PT Raised to $140.00

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Okta (NASDAQ:OKTA) had its price target upped by analysts at Mizuho from $130.00 to $140.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price target points to a potential upside of 2.17% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Okta from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $135.00 price target (down from $155.00) on shares of Okta in a research note on Friday, December 6th. They noted that the move was a valuation call. DA Davidson raised Okta from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $135.00 in a research note on Monday, November 18th. Canaccord Genuity lifted their price target on Okta from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, ValuEngine raised Okta from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Okta currently has a consensus rating of “Buy” and an average target price of $137.72.

Shares of Okta stock opened at $137.03 on Thursday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 2.47. The business’s 50 day simple moving average is $127.15 and its two-hundred day simple moving average is $120.25. Okta has a one year low of $70.44 and a one year high of $141.85.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, December 5th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.05. The business had revenue of $153.04 million for the quarter, compared to analysts’ expectations of $143.88 million. Okta had a negative return on equity of 53.08% and a negative net margin of 35.43%. The business’s quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. On average, research analysts predict that Okta will post -1.41 EPS for the current fiscal year.

In other news, CFO William E. Losch sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $131.78, for a total transaction of $3,953,400.00. Following the transaction, the chief financial officer now directly owns 42,562 shares of the company’s stock, valued at $5,608,820.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Race sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $119.49, for a total value of $5,974,500.00. Following the transaction, the insider now directly owns 60,540 shares in the company, valued at $7,233,924.60. The disclosure for this sale can be found here. Insiders have sold 275,922 shares of company stock worth $34,338,836 over the last three months. Insiders own 14.69% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of OKTA. Advisors Asset Management Inc. boosted its holdings in Okta by 7.1% in the fourth quarter. Advisors Asset Management Inc. now owns 11,053 shares of the company’s stock worth $1,275,000 after acquiring an additional 730 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Okta in the fourth quarter worth $4,091,000. Ancora Advisors LLC bought a new stake in Okta in the fourth quarter worth $89,000. UBS Asset Management Americas Inc. boosted its holdings in Okta by 2.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 360,836 shares of the company’s stock worth $41,630,000 after acquiring an additional 9,569 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in Okta in the fourth quarter worth $1,101,000. 70.35% of the stock is currently owned by hedge funds and other institutional investors.

Okta Company Profile

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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The Fly

Analyst Recommendations for Okta (NASDAQ:OKTA)

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