Okta, Inc. (NASDAQ:OKTA) has received an average rating of “Buy” from the twenty-eight brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $292.58.
OKTA has been the topic of several recent research reports. Wolfe Research initiated coverage on Okta in a research report on Friday, August 6th. They set an “outperform” rating and a $295.00 price objective on the stock. Summit Insights increased their target price on Okta from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, September 2nd. BTIG Research raised their price objective on Okta from $280.00 to $302.00 and gave the stock a “buy” rating in a research report on Thursday, September 2nd. William Blair reiterated an “outperform” rating on shares of Okta in a report on Thursday, September 2nd. Finally, Truist Securities raised their price objective on Okta from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, September 2nd.
In other news, CEO Todd Mckinnon sold 18,474 shares of the company’s stock in a transaction on Monday, September 20th. The shares were sold at an average price of $253.05, for a total value of $4,674,845.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacques Frederic Kerrest sold 33,228 shares of the company’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $270.61, for a total transaction of $8,991,829.08. The disclosure for this sale can be found here. In the last three months, insiders sold 137,888 shares of company stock valued at $35,877,252. Company insiders own 9.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Okta by 13.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,586,798 shares of the company’s stock valued at $3,079,738,000 after acquiring an additional 1,514,962 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Okta by 37.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,239,019 shares of the company’s stock valued at $2,749,963,000 after acquiring an additional 3,076,901 shares during the last quarter. Jennison Associates LLC boosted its stake in Okta by 334.5% during the 3rd quarter. Jennison Associates LLC now owns 4,284,408 shares of the company’s stock valued at $1,016,861,000 after acquiring an additional 3,298,332 shares during the last quarter. Sands Capital Management LLC boosted its stake in Okta by 41.7% during the 3rd quarter. Sands Capital Management LLC now owns 2,748,539 shares of the company’s stock valued at $652,338,000 after acquiring an additional 808,325 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Okta by 2,405.2% during the 3rd quarter. Capital Research Global Investors now owns 2,687,145 shares of the company’s stock valued at $637,767,000 after acquiring an additional 2,579,882 shares during the last quarter. Hedge funds and other institutional investors own 71.63% of the company’s stock.
Shares of NASDAQ:OKTA opened at $240.68 on Friday. The stock has a market capitalization of $37.22 billion, a P/E ratio of -63.34 and a beta of 0.99. Okta has a 1-year low of $199.08 and a 1-year high of $294.00. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $250.30 and a two-hundred day moving average price of $244.03.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 31st. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.24. Okta had a negative return on equity of 18.64% and a negative net margin of 52.47%. The firm had revenue of $316.00 million during the quarter, compared to the consensus estimate of $293.16 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The business’s revenue was up 57.7% on a year-over-year basis. As a group, equities analysts predict that Okta will post -5.09 EPS for the current year.
About Okta
Okta, Inc engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm’s products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management.