Okta, Inc. (NASDAQ:OKTA) Receives Consensus Rating of “Hold” from Brokerages

Shares of Okta, Inc. (NASDAQ:OKTA) have received a consensus recommendation of “Hold” from the thirty-two analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $98.30.

Several research analysts recently weighed in on OKTA shares. Mizuho cut their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Robert W. Baird reduced their target price on Okta from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Wells Fargo & Company decreased their price target on Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $85.00 in a research report on Tuesday, November 12th. Finally, BTIG Research lowered their target price on Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th.

Okta Stock Up 1.5 %

Shares of NASDAQ OKTA opened at $76.57 on Monday. 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. The stock has a market capitalization of $13.01 billion, a P/E ratio of -91.15, a P/E/G ratio of 18.47 and a beta of 1.02. The company has a 50-day moving average price of $74.72 and a 200-day moving average price of $85.32.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. On average, equities research analysts forecast that Okta will post 0.19 EPS for the current fiscal year.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 224,533 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock worth $35,701,361 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OKTA. Caprock Group LLC boosted its holdings in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after purchasing an additional 129 shares in the last quarter. National Bank of Canada FI boosted its stake in Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after buying an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 acquiring an additional 142 shares during the last quarter. CWM LLC grew its position in Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after acquiring an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

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.