Analysts Set Okta, Inc. (NASDAQ:OKTA) Price Target at $98.96

Okta, Inc. (NASDAQ:OKTA) has earned a consensus rating of “Hold” from the thirty ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $99.39.

OKTA has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Monday. Susquehanna dropped their price target on shares of Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. UBS Group dropped their price target on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Robert W. Baird lowered their price objective on shares of Okta from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Bank of America downgraded shares of Okta from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $135.00 to $75.00 in a research report on Thursday, August 29th.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now owns 14,601 shares in the company, valued at $1,133,475.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares in the company, valued at approximately $1,133,475.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 475,793 shares of company stock worth $35,759,000 in the last quarter. Insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

A number of hedge funds have recently made changes to their positions in the stock. Caprock Group LLC lifted its holdings in shares of Okta by 4.7% during the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after acquiring an additional 129 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 during the last quarter. CWM LLC lifted its holdings in shares of Okta by 5.3% during the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after acquiring an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Trading Up 0.0 %

Shares of NASDAQ:OKTA opened at $73.24 on Thursday. Okta has a 12-month low of $65.98 and a 12-month high of $114.50. The stock has a market cap of $12.44 billion, a PE ratio of -87.19, a P/E/G ratio of 16.64 and a beta of 1.01. The business has a 50 day moving average of $75.79 and a 200-day moving average of $87.31. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. As a group, equities research analysts forecast that Okta will post 0.19 earnings per share for the current year.

About Okta

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.