Okta (NASDAQ:OKTA) had its target price hoisted by Mizuho from $130.00 to $140.00 in a research note released on Thursday, The Fly reports. The firm currently has a neutral rating on the stock.
A number of other equities analysts have also recently weighed in on OKTA. Canaccord Genuity upped their price target on Okta from $120.00 to $125.00 and gave the stock a hold rating in a report on Friday, December 6th. Robert W. Baird restated a hold rating and issued a $135.00 price target on shares of Okta in a report on Friday, December 6th. BidaskClub raised Okta from a hold rating to a buy rating in a research report on Tuesday. Morgan Stanley upped their target price on Okta from $120.00 to $137.00 and gave the company an equal weight rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their target price on Okta from $168.00 to $151.00 and set an overweight rating on the stock in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. Okta presently has an average rating of Buy and an average target price of $137.72.
NASDAQ OKTA traded up $1.72 on Thursday, reaching $137.03. The company had a trading volume of 1,178,821 shares, compared to its average volume of 1,261,707. The firm has a market capitalization of $16.57 billion, a PE ratio of -83.55 and a beta of 0.97. Okta has a 1 year low of $70.44 and a 1 year high of $141.85. The firm has a 50-day moving average of $126.82 and a 200-day moving average of $120.27. The company has a debt-to-equity ratio of 2.47, a current ratio of 3.19 and a quick ratio of 3.19.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, December 5th. The company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.05. The firm had revenue of $153.04 million during the quarter, compared to analysts’ expectations of $143.88 million. Okta had a negative return on equity of 53.08% and a negative net margin of 35.43%. Okta’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. As a group, sell-side analysts expect that Okta will post -1.42 EPS for the current fiscal year.
In other Okta news, CFO William E. Losch sold 21,108 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.52, for a total value of $2,459,504.16. Following the sale, the chief financial officer now directly owns 13,670 shares of the company’s stock, valued at $1,592,828.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Race sold 50,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $119.49, for a total value of $5,974,500.00. Following the completion of the sale, the insider now directly owns 60,540 shares in the company, valued at $7,233,924.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,922 shares of company stock worth $34,338,836. Corporate insiders own 14.69% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Matthew Goff Investment Advisor LLC acquired a new stake in Okta in the third quarter worth $2,500,000. TCI Wealth Advisors Inc. increased its position in Okta by 5,160.0% in the fourth quarter. TCI Wealth Advisors Inc. now owns 263 shares of the company’s stock worth $30,000 after buying an additional 258 shares during the period. Valeo Financial Advisors LLC increased its position in Okta by 75.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 550 shares of the company’s stock worth $63,000 after buying an additional 237 shares during the period. Baldwin Brothers Inc. MA increased its position in Okta by 500.0% in the fourth quarter. Baldwin Brothers Inc. MA now owns 600 shares of the company’s stock worth $70,000 after buying an additional 500 shares during the period. Finally, Sowell Financial Services LLC increased its position in Okta by 556.3% in the fourth quarter. Sowell Financial Services LLC now owns 630 shares of the company’s stock worth $73,000 after buying an additional 534 shares during the period. 70.35% of the stock is currently owned by hedge funds and other institutional investors.
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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