Scotiabank Has Positive Outlook for Okta FY2025 Earnings

Okta, Inc. (NASDAQ:OKTAFree Report) – Investment analysts at Scotiabank increased their FY2025 earnings per share (EPS) estimates for Okta in a report issued on Wednesday, January 8th. Scotiabank analyst P. Colville now forecasts that the company will post earnings per share of $0.41 for the year, up from their prior forecast of $0.21. Scotiabank has a “Sector Perform” rating and a $96.00 price target on the stock. The consensus estimate for Okta’s current full-year earnings is $0.40 per share.

OKTA has been the subject of a number of other reports. DA Davidson upped their target price on Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and decreased their target price for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a research report on Wednesday, December 4th. Mizuho decreased their price objective on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Finally, Citigroup increased their target price on Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Okta has an average rating of “Hold” and a consensus target price of $104.45.

Check Out Our Latest Stock Analysis on Okta

Okta Trading Down 1.3 %

Okta stock opened at $84.37 on Friday. Okta has a 12 month low of $70.56 and a 12 month high of $114.50. The stock has a market cap of $14.46 billion, a price-to-earnings ratio of -241.06, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. The business has a 50 day moving average price of $80.13 and a two-hundred day moving average price of $82.68. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Okta

Several institutional investors have recently modified their holdings of OKTA. Paloma Partners Management Co bought a new position in Okta during the third quarter worth about $969,000. SG Americas Securities LLC raised its position in shares of Okta by 122.3% during the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,364 shares during the period. Truist Financial Corp lifted its holdings in shares of Okta by 62.5% during the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after purchasing an additional 200,770 shares in the last quarter. Stifel Financial Corp grew its position in shares of Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after purchasing an additional 13,387 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after purchasing an additional 184,107 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Insiders sold a total of 607,129 shares of company stock worth $47,937,652 over the last three months. 7.00% of the stock is currently owned by company insiders.

About Okta

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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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Earnings History and Estimates for Okta (NASDAQ:OKTA)

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