Okta, Inc. (NASDAQ:OKTA) Given Average Rating of “Hold” by Analysts

Shares of Okta, Inc. (NASDAQ:OKTA) have been given an average rating of “Hold” by the thirty-one brokerages that are currently covering the company, 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 target price among brokerages that have issued a report on the stock in the last year is $105.58.

A number of equities analysts recently weighed in on the stock. Susquehanna lowered their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. BMO Capital Markets dropped their target price on shares of Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a report on Monday, June 3rd. Wedbush reiterated an “outperform” rating and set a $130.00 price target on shares of Okta in a report on Wednesday, May 29th. JPMorgan Chase & Co. upped their price objective on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Finally, Guggenheim reiterated a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Tuesday, June 25th.

Okta Trading Up 0.2 %

Okta stock opened at $93.79 on Friday. The company has a market cap of $15.78 billion, a price-to-earnings ratio of -56.16 and a beta of 1.03. The firm has a 50-day moving average of $93.43 and a 200-day moving average of $93.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. Okta has a one year low of $65.04 and a one year high of $114.50.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.27. The firm had revenue of $617.00 million during 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%. On average, equities analysts expect that Okta will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jacques Frederic Kerrest sold 2,100 shares of Okta stock in a transaction on Friday, June 28th. The stock was sold at an average price of $95.12, for a total value of $199,752.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 22,530 shares of company stock worth $1,980,733 over the last three months. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise boosted its position in Okta by 4.3% in the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock valued at $307,000 after buying an additional 122 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Okta by 50.4% in the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after acquiring an additional 131 shares during the last quarter. Blue Zone Wealth Advisors LLC boosted its holdings in shares of Okta by 2.7% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 5,142 shares of the company’s stock valued at $466,000 after acquiring an additional 134 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Okta by 7.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company’s stock worth $174,000 after acquiring an additional 138 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

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.