BidaskClub upgraded shares of Okta (NASDAQ:OKTA) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

Several other brokerages have also issued reports on OKTA. Needham & Company LLC boosted their target price on Okta to $154.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Guggenheim boosted their price target on Okta from $125.00 to $152.00 and gave the company a buy rating in a report on Thursday, August 29th. DA Davidson boosted their price objective on shares of Okta from $114.00 to $131.00 and gave the stock a neutral rating in a research note on Thursday, August 29th. ValuEngine downgraded shares of Okta from a hold rating to a sell rating in a research note on Wednesday, October 2nd. Finally, Piper Jaffray Companies boosted their price objective on shares of Okta from $120.00 to $160.00 and gave the stock an overweight rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Okta has a consensus rating of Hold and an average target price of $128.89.

Shares of NASDAQ:OKTA opened at $114.57 on Tuesday. Okta has a 1 year low of $41.88 and a 1 year high of $141.85. The business has a 50 day simple moving average of $114.91 and a two-hundred day simple moving average of $115.21. The firm has a market capitalization of $13.45 billion, a PE ratio of -111.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.12 and a quick ratio of 1.12.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). Okta had a negative return on equity of 53.93% and a negative net margin of 31.90%. The business had revenue of $140.48 million during the quarter, compared to analyst estimates of $131.19 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. The company’s revenue for the quarter was up 48.5% compared to the same quarter last year. Equities research analysts expect that Okta will post -1.42 EPS for the current fiscal year.

In other news, CFO William E. Losch sold 20,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $136.79, for a total transaction of $2,735,800.00. Following the transaction, the chief financial officer now directly owns 30,366 shares of the company’s stock, valued at $4,153,765.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO William E. Losch sold 21,108 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $102.73, for a total value of $2,168,424.84. Following the transaction, the chief financial officer now directly owns 12,572 shares in the company, valued at $1,291,521.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 609,676 shares of company stock worth $78,050,567. Insiders own 14.69% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC lifted its stake in Okta by 76.9% in the 2nd quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in Okta by 122.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock valued at $29,000 after buying an additional 131 shares during the period. Focused Wealth Management Inc purchased a new stake in shares of Okta during the 2nd quarter worth $30,000. Truewealth LLC purchased a new stake in shares of Okta during the 2nd quarter worth $33,000. Finally, CSat Investment Advisory L.P. purchased a new stake in shares of Okta during the 2nd quarter worth $34,000. 69.12% of the stock is currently owned by institutional investors and hedge funds.

About Okta

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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Analyst Recommendations for Okta (NASDAQ:OKTA)

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