Several other equities analysts have also issued reports on OKTA. Cowen boosted their target price on Okta from $150.00 to $195.00 and gave the stock an outperform rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their target price on Okta from $154.00 to $192.00 and gave the stock an overweight rating in a research report on Friday, May 29th. Piper Sandler reiterated a buy rating and issued a $190.00 price objective on shares of Okta in a research report on Monday, June 8th. Needham & Company LLC started coverage on Okta in a research report on Friday, May 29th. They issued a hold rating for the company. Finally, BMO Capital Markets decreased their price objective on Okta from $210.00 to $205.00 and set an outperform rating for the company in a research report on Friday, May 29th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Okta has an average rating of Buy and an average target price of $181.56.
Shares of NASDAQ:OKTA opened at $200.23 on Tuesday. The stock has a market capitalization of $24.90 billion, a P/E ratio of -111.86 and a beta of 1.07. Okta has a 1-year low of $88.66 and a 1-year high of $206.09. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 2.52. The business has a 50-day moving average price of $188.89 and a two-hundred day moving average price of $144.13.
Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.10. The firm had revenue of $182.86 million during the quarter, compared to analysts’ expectations of $171.57 million. Okta had a negative return on equity of 44.99% and a negative net margin of 33.34%. The company’s quarterly revenue was up 46.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) EPS. As a group, equities analysts predict that Okta will post -1.51 EPS for the current year.
In related news, CFO William E. Losch sold 30,000 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $133.21, for a total value of $3,996,300.00. Following the sale, the chief financial officer now owns 46,726 shares in the company, valued at approximately $6,224,370.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charles Race sold 50,000 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $132.45, for a total value of $6,622,500.00. Following the completion of the sale, the insider now owns 65,401 shares in the company, valued at approximately $8,662,362.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 536,287 shares of company stock worth $93,666,752. 12.02% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of OKTA. Asset Management One Co. Ltd. grew its holdings in Okta by 2.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 52,405 shares of the company’s stock valued at $6,046,000 after buying an additional 1,006 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in Okta in the 4th quarter valued at $205,000. Invesco Ltd. grew its holdings in Okta by 33.8% in the 1st quarter. Invesco Ltd. now owns 323,059 shares of the company’s stock valued at $39,498,000 after buying an additional 81,624 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Okta by 0.3% during the 1st quarter. BlackRock Inc. now owns 7,688,692 shares of the company’s stock worth $940,021,000 after purchasing an additional 22,883 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Okta by 2.4% during the 1st quarter. Cetera Investment Advisers now owns 4,279 shares of the company’s stock worth $523,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 75.57% of the company’s stock.
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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