Okta, Inc. (NASDAQ:OKTA) Given Average Rating of “Hold” by Brokerages

Shares of Okta, Inc. (NASDAQ:OKTA) have been assigned a consensus recommendation of “Hold” from the thirty-one analysts that are currently covering the company, MarketBeat.com reports. Nineteen analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $105.58.

Several analysts have recently issued reports on the stock. Sanford C. Bernstein upped their target price on shares of Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. UBS Group decreased their price objective on shares of Okta from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Okta in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their price objective on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, Oppenheimer lifted their target price on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 18,878 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently made changes to their positions in OKTA. City State Bank grew its holdings in Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Okta by 71.4% in 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. GAMMA Investing LLC purchased a new stake in Okta in the fourth quarter worth $29,000. Venturi Wealth Management LLC increased its stake in shares of Okta by 50.4% during the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after buying an additional 131 shares during the period. Finally, Principal Securities Inc. purchased a new position in Okta in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Up 4.6 %

Okta stock opened at $92.37 on Friday. 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 has a 12-month low of $65.04 and a 12-month high of $114.50. The firm’s fifty day moving average is $93.37 and its 200 day moving average is $92.58. The company has a market capitalization of $15.54 billion, a PE ratio of -55.31 and a beta of 1.03.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $604.33 million. As a group, sell-side analysts predict that Okta will post -0.28 EPS 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.