Okta, Inc. (NASDAQ:OKTA) Receives $100.39 Average Price Target from Brokerages

Okta, Inc. (NASDAQ:OKTA) has been assigned an average recommendation of “Hold” from the thirty-one analysts that are presently covering the firm, MarketBeat.com reports. Twenty research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $100.39.

OKTA has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Okta from $95.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 price target (up previously from $85.00) on shares of Okta in a report on Friday, January 5th. Truist Financial reiterated a “hold” rating and issued a $105.00 price target (up previously from $85.00) on shares of Okta in a 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 note on Thursday, February 29th. Finally, Susquehanna increased their target price on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, March 4th.

Insider Buying and Selling

In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Shellye L. Archambeau sold 5,000 shares of the business’s 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 completion of the transaction, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,779 shares of company stock valued at $1,205,990. 7.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Okta

Institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new stake in Okta during the third quarter worth approximately $27,000. City State Bank lifted its stake in Okta by 160.0% during 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 last quarter. LM Advisors LLC purchased a new stake in Okta during the fourth quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new stake in Okta during the third quarter worth approximately $29,000. Finally, GAMMA Investing LLC purchased a new stake in Okta during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Up 0.8 %

NASDAQ OKTA opened at $95.01 on Friday. The company’s 50-day moving average price is $98.49 and its 200-day moving average price is $85.64. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock has a market cap of $15.90 billion, a PE ratio of -43.78 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 quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The firm had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $586.25 million. Equities research analysts forecast that Okta will post -1.51 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.