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

Okta, Inc. (NASDAQ:OKTA) has been assigned an average recommendation of “Hold” from the thirty ratings firms that are covering the stock, Marketbeat Ratings reports. Twenty research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $100.39.

OKTA has been the topic of several research reports. Citigroup raised their price objective on shares of Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Susquehanna raised their price objective on shares of Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Oppenheimer raised their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Canaccord Genuity Group raised their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada raised their price objective on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th.

Insiders Place Their Bets

In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the transaction, the chief accounting officer now owns 6,539 shares in the company, valued at $590,013.97. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the sale, the chief accounting officer now directly owns 6,539 shares in the company, valued at $590,013.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,779 shares of company stock worth $1,205,990. Insiders own 7.36% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of hedge funds and other institutional investors have recently modified their holdings of OKTA. NBC Securities Inc. purchased a new stake in Okta in the third quarter valued at approximately $27,000. City State Bank grew its holdings in Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 160 shares during the period. LM Advisors LLC purchased a new stake in Okta in the fourth quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in Okta in the third quarter valued at approximately $29,000. Finally, GAMMA Investing LLC purchased a new stake in Okta in the fourth quarter valued at approximately $29,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Trading Down 0.1 %

NASDAQ OKTA opened at $93.71 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The firm’s fifty day moving average price is $98.87 and its 200 day moving average price is $85.75. The company has a market capitalization of $15.69 billion, a price-to-earnings ratio of -43.18 and a beta of 1.00. Okta has a 12 month low of $65.04 and a 12 month high of $114.50.

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

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.