Okta, Inc. (NASDAQ:OKTA – Get Free Report) has been given a consensus rating of “Moderate Buy” by the thirty-three brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and twenty have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $90.35.
A number of equities analysts have weighed in on OKTA shares. KeyCorp lowered their price objective on Okta from $106.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Okta in a report on Tuesday, August 29th. Macquarie lifted their price target on shares of Okta from $83.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. Morgan Stanley dropped their target price on Okta from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective on shares of Okta in a research report on Thursday, August 31st.
Insiders Place Their Bets
Institutional Investors Weigh In On Okta
Several large investors have recently made changes to their positions in OKTA. MetLife Investment Management LLC bought a new stake in Okta during the first quarter valued at about $1,232,000. APG Asset Management N.V. lifted its stake in shares of Okta by 37.3% in the first quarter. APG Asset Management N.V. now owns 7,000 shares of the company’s stock valued at $950,000 after buying an additional 1,900 shares during the period. Raymond James Trust N.A. grew its position in Okta by 33.7% during the first quarter. Raymond James Trust N.A. now owns 2,307 shares of the company’s stock worth $349,000 after buying an additional 581 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Okta by 3.7% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,788 shares of the company’s stock valued at $3,440,000 after acquiring an additional 808 shares during the period. Finally, Cibc World Market Inc. raised its holdings in Okta by 7.9% in the 1st quarter. Cibc World Market Inc. now owns 3,297 shares of the company’s stock valued at $498,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 77.52% of the company’s stock.
Okta Stock Performance
Shares of OKTA stock opened at $72.06 on Thursday. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of -19.53 and a beta of 0.97. Okta has a 52-week low of $46.78 and a 52-week high of $91.50. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $76.79 and its 200 day moving average is $75.78.
Okta (NASDAQ:OKTA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The business had revenue of $556.00 million for the quarter, compared to the consensus estimate of $534.67 million. Okta had a negative return on equity of 9.40% and a negative net margin of 28.66%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the business posted ($1.19) EPS. On average, sell-side analysts anticipate that Okta will post -2.85 EPS for the current fiscal year.
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's, a suite of products and services is used 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 applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions.
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