Okta, Inc. (NASDAQ:OKTA) Receives $105.58 Consensus Price Target from Analysts

Okta, Inc. (NASDAQ:OKTA) has been assigned an average recommendation of “Hold” from the thirty-one brokerages that are currently covering the firm, MarketBeat Ratings reports. Nineteen equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $105.58.

A number of equities research analysts recently issued reports on OKTA shares. Susquehanna lowered their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. UBS Group lowered their price target on shares of Okta from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. BMO Capital Markets cut their price objective on shares of Okta from $110.00 to $100.00 and set a “market perform” rating for the company in a report on Monday, June 3rd. JPMorgan Chase & Co. increased their target price on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a research report on Tuesday, June 25th.

Okta Stock Performance

Shares of OKTA stock opened at $93.61 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of -56.05 and a beta of 1.03. Okta has a 52 week low of $65.04 and a 52 week high of $114.50. The firm’s 50-day simple moving average is $93.42 and its two-hundred day simple moving average is $93.10.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. The company had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $604.33 million. As a group, equities analysts forecast that Okta will post -0.28 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 2,100 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $95.12, for a total value of $199,752.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 22,530 shares of company stock valued at $1,980,733. Insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. City State Bank increased its stake in shares of Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares during the period. GAMMA Investing LLC bought a new position in shares of Okta during the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Okta by 50.4% in the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after purchasing an additional 131 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in Okta during the 4th quarter valued at about $48,000. Institutional investors own 86.64% of the company’s stock.

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.