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

Shares of Okta, Inc. (NASDAQ:OKTA) have been given an average recommendation of “Hold” by the thirty-one brokerages that are currently covering the company, Marketbeat reports. Nineteen investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $105.58.

OKTA has been the topic of a number of recent research reports. BMO Capital Markets cut their price target on shares of Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of Okta in a report on Wednesday, May 29th. Susquehanna decreased their price target on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $102.00 to $122.00 in a research report on Thursday, May 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $130.00 price objective on shares of Okta in a research report on Tuesday, June 25th.

Insider Activity

In related news, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total transaction of $277,524.80. Following the sale, the insider now directly owns 29,809 shares in the company, valued at approximately $2,963,014.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the transaction, the insider now owns 29,809 shares of the company’s stock, valued at approximately $2,963,014.60. The disclosure for this sale can be found here. Insiders have sold 362,256 shares of company stock valued at $34,154,578 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKTA. City State Bank raised its stake in shares of Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares in the last quarter. GAMMA Investing LLC acquired a new position in Okta during the fourth quarter valued at $29,000. EverSource Wealth Advisors LLC raised its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after buying an additional 142 shares during the period. Venturi Wealth Management LLC raised its position in 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, First Command Advisory Services Inc. purchased a new position in Okta in the second quarter valued at about $47,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Up 0.4 %

Shares of OKTA opened at $93.48 on Tuesday. The firm has a market cap of $15.73 billion, a P/E ratio of -55.98 and a beta of 1.03. Okta has a 12-month low of $65.04 and a 12-month high of $114.50. The company’s 50-day moving average price is $92.85 and its 200 day moving average price is $94.05. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. The company had revenue of $617.00 million for the quarter, compared to analyst estimates of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, sell-side analysts forecast that Okta will post -0.28 earnings per share for the current 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.