Okta (OKTA) Projected to Post Earnings on Monday

Okta (NASDAQ:OKTA) is anticipated to issue its quarterly earnings data after the market closes on Monday, March 3rd. Analysts expect the company to announce earnings of $0.73 per share and revenue of $669.10 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Okta Stock Up 1.5 %

NASDAQ OKTA opened at $90.49 on Friday. The stock has a 50 day moving average price of $89.30 and a 200-day moving average price of $82.60. Okta has a one year low of $70.56 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $15.51 billion, a P/E ratio of -258.54, a P/E/G ratio of 6.42 and a beta of 1.03.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $101.00 price objective on shares of Okta in a research note on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Okta in a research report on Tuesday, February 4th. Susquehanna boosted their price objective on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Piper Sandler lifted their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $105.67.

Insiders Place Their Bets

In other news, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the sale, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 980,908 shares of company stock worth $85,025,665. 7.00% of the stock is currently owned by company insiders.

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.