Okta (OKTA) Set to Announce Quarterly Earnings on Tuesday

Okta (NASDAQ:OKTA) will release its earnings data after the market closes on Tuesday, December 3rd. Analysts expect Okta to post earnings of $0.57 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Okta Stock Up 1.5 %

Shares of NASDAQ:OKTA opened at $77.56 on Monday. The stock’s 50-day moving average is $74.94 and its 200 day moving average is $84.67. The company has a market cap of $13.17 billion, a PE ratio of -92.33, a P/E/G ratio of 18.99 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta has a 1 year low of $66.69 and a 1 year high of $114.50.

Insiders Place Their Bets

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction 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 sale, the executive now directly owns 14,601 shares in the company, valued at approximately $1,133,475.63. The trade was a 40.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 475,789 shares of company stock valued at $35,701,361. Company insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OKTA shares. Morgan Stanley decreased their target price on Okta from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Canaccord Genuity Group dropped their target price on shares of Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, October 18th. Truist Financial reduced their price target on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a report on Thursday, August 29th. Finally, Wells Fargo & Company reduced their target price on Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.45.

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.