Okta, Inc. (NASDAQ:OKTA) Receives Average Rating of “Hold” from Brokerages (2024)

Okta, Inc. (NASDAQ:OKTA – Get Free Report) has received an average rating of “Hold” from the thirty-one analysts that are covering the company, Marketbeat reports. Nineteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $105.58.

OKTA has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and set a $130.00 target price on shares of Okta in a research report on Wednesday, May 29th. JPMorgan Chase & Co. raised their price objective on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Susquehanna dropped their target price on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Okta in a research note on Thursday, May 30th. Finally, Mizuho upped their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 17th.

View Our Latest Stock Analysis on OKTA

Okta Stock Up 1.1 %

OKTA opened at $95.02 on Tuesday. The firm has a market cap of $15.99 billion, a P/E ratio of -56.90 and a beta of 1.03. The business’s fifty day simple moving average is $93.36 and its 200 day simple moving average is $93.83. Okta has a 52 week low of $65.04 and a 52 week high of $114.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19.

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

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at approximately $2,963,014.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Okta news, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total transaction of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at approximately $2,963,014.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,840 shares of company stock valued at $8,566,381. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

Several institutional investors and hedge funds have recently bought and sold shares of OKTA. City State Bank lifted its holdings in Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Okta during the 4th quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Okta by 50.4% during the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after acquiring an additional 131 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Okta in the 4th quarter worth $48,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

About Okta

(Get Free Report

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.

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