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

Shares of Okta, Inc. (NASDAQ:OKTA) have earned a consensus rating of “Hold” from the thirty-one analysts that are presently covering the stock, MarketBeat Ratings reports. Nineteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $105.58.

Several research firms have commented on OKTA. Susquehanna lowered 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. Mizuho raised their target price on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $102.00 to $122.00 in a report on Thursday, May 30th.

Okta Stock Up 0.8 %

Shares of NASDAQ OKTA opened at $94.23 on Tuesday. The firm’s 50 day moving average price is $92.68 and its 200 day moving average price is $94.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $15.85 billion, a P/E ratio of -56.42 and a beta of 1.03. Okta has a 1 year low of $65.04 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.27. The business had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $604.33 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. As a group, sell-side analysts anticipate that Okta will post -0.28 earnings per share for the current year.

Insider Activity at Okta

In other news, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Okta news, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the sale, the chief executive officer now owns 47,883 shares in the company, valued at $4,473,229.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jacques Frederic Kerrest sold 18,878 shares of Okta stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $87.19, for a total value of $1,645,972.82. The disclosure for this sale can be found here. Insiders have sold 362,256 shares of company stock valued at $34,154,578 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

A number of institutional investors and hedge funds have recently modified their holdings of the business. City State Bank boosted its holdings in shares of Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares during the period. GAMMA Investing LLC bought a new position in Okta in the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its stake in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 131 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new position in shares of Okta during the second quarter valued at approximately $47,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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.