Okta, Inc. (NASDAQ:OKTA) Receives $100.39 Consensus PT from Analysts

Shares of Okta, Inc. (NASDAQ:OKTA) have earned an average rating of “Hold” from the thirty-one research firms that are presently covering the stock, MarketBeat Ratings reports. Twenty research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $100.39.

Several equities analysts recently weighed in on the stock. Susquehanna increased their price target on shares of Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. JPMorgan Chase & Co. increased their price target on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Piper Sandler increased their price target on shares of Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 price target (up previously from $85.00) on shares of Okta in a report on Friday, January 5th. Finally, Mizuho increased their price target on shares of Okta from $90.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th.

Insider Transactions at Okta

In related news, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were 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 of the company’s stock, valued at $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the sale, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The disclosure for this sale can be found here. Insiders sold 12,651 shares of company stock valued at $1,278,218 over the last 90 days. 7.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Blue Zone Wealth Advisors LLC lifted its position in Okta by 2.7% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 5,142 shares of the company’s stock valued at $466,000 after buying an additional 134 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in Okta by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 18,281 shares of the company’s stock valued at $1,249,000 after buying an additional 136 shares during the last quarter. Captrust Financial Advisors lifted its position in Okta by 2.4% in the second quarter. Captrust Financial Advisors now owns 5,953 shares of the company’s stock valued at $538,000 after buying an additional 137 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in Okta by 7.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company’s stock valued at $174,000 after buying an additional 138 shares during the last quarter. Finally, Toroso Investments LLC lifted its position in Okta by 10.1% in the first quarter. Toroso Investments LLC now owns 1,717 shares of the company’s stock valued at $259,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $104.43 on Wednesday. The firm has a market capitalization of $17.48 billion, a P/E ratio of -48.12 and a beta of 1.00. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $93.35 and a 200 day moving average price of $83.78. Okta has a 52 week low of $65.04 and a 52 week high of $114.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.35. The firm had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. Sell-side analysts expect that Okta will post -1.51 EPS for the current year.

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.