Okta (NASDAQ:OKTA – Get Rating) had its target price upped by Royal Bank of Canada from $80.00 to $95.00 in a research report report published on Friday morning, The Fly reports. They currently have an outperform rating on the stock.
OKTA has been the topic of several other research reports. JPMorgan Chase & Co. initiated coverage on shares of Okta in a research note on Tuesday, January 24th. They issued an overweight rating and a $90.00 price objective on the stock. Sumitomo Mitsui Financial Group initiated coverage on shares of Okta in a report on Wednesday, January 4th. They issued an outperform rating and a $90.00 target price on the stock. Wells Fargo & Company set a $76.00 target price on shares of Okta in a report on Wednesday, November 23rd. Mizuho dropped their target price on shares of Okta from $110.00 to $90.00 and set a buy rating on the stock in a report on Thursday, November 10th. Finally, Canaccord Genuity Group dropped their price objective on shares of Okta from $85.00 to $70.00 and set a hold rating on the stock in a report on Monday, November 14th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, Okta currently has an average rating of Moderate Buy and a consensus target price of $83.76.
Get Okta alerts:Okta Trading Down 4.7 %
NASDAQ OKTA opened at $77.47 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.41. Okta has a fifty-two week low of $44.12 and a fifty-two week high of $203.79. The firm's fifty day moving average price is $67.34 and its two-hundred day moving average price is $69.13.
Okta (NASDAQ:OKTA – Get Rating) last issued its quarterly earnings data on Wednesday, November 30th. The company reported ($1.09) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.25. Okta had a negative net margin of 52.19% and a negative return on equity of 13.61%. The company had revenue of $481.04 million for the quarter, compared to analysts' expectations of $463.62 million. As a group, sell-side analysts forecast that Okta will post -4.46 earnings per share for the current year.Insider Activity at Okta
In other Okta news, CEO Todd Mckinnon sold 3,771 shares of the business's stock in a transaction on Friday, December 16th. The shares were sold at an average price of $67.41, for a total transaction of $254,203.11. Following the transaction, the chief executive officer now owns 18,662 shares in the company, valued at $1,258,005.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Okta news, CFO Brett Tighe sold 2,643 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $67.41, for a total transaction of $178,164.63. Following the completion of the sale, the chief financial officer now directly owns 39,472 shares of the company's stock, valued at $2,660,807.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 3,771 shares of the stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $67.41, for a total transaction of $254,203.11. Following the completion of the transaction, the chief executive officer now directly owns 18,662 shares of the company's stock, valued at $1,258,005.42. The disclosure for this sale can be found here. Insiders have sold a total of 11,950 shares of company stock valued at $805,573 over the last 90 days. 7.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Okta
A number of institutional investors have recently bought and sold shares of the business. MetLife Investment Management LLC acquired a new stake in shares of Okta during the 1st quarter worth approximately $1,232,000. APG Asset Management N.V. raised its holdings in Okta by 37.3% in the 1st quarter. APG Asset Management N.V. now owns 7,000 shares of the company's stock valued at $950,000 after buying an additional 1,900 shares during the period. Raymond James Trust N.A. raised its holdings in Okta by 33.7% in the 1st quarter. Raymond James Trust N.A. now owns 2,307 shares of the company's stock valued at $349,000 after buying an additional 581 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Okta by 3.7% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,788 shares of the company's stock valued at $3,440,000 after buying an additional 808 shares during the period. Finally, Cibc World Market Inc. raised its holdings in Okta by 7.9% in the 1st quarter. Cibc World Market Inc. now owns 3,297 shares of the company's stock valued at $498,000 after buying an additional 240 shares during the period. 73.02% of the stock is owned by hedge funds and other institutional investors.
Okta Company Profile
(Get Rating)
Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the 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.
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