Okta (NASDAQ:OKTA) Given a $132.00 Price Target by BMO Capital Markets Analysts

Okta (NASDAQ:OKTA - Get Free Report) has been assigned a $132.00 price objective by stock analysts at BMO Capital Markets in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' target price would indicate a potential upside of 25.45% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Stephens reiterated an "equal weight" rating and set a $127.00 price objective on shares of Okta in a research report on Tuesday. Stifel Nicolaus lifted their price objective on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday. BTIG Research reissued a "buy" rating on shares of Okta in a report on Thursday, May 22nd. Royal Bank of Canada cut their target price on shares of Okta from $143.00 to $135.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Evercore ISI raised their target price on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $121.83.

Okta Trading Down 16.2%

Okta stock opened at $105.22 on Wednesday. The stock has a market cap of $18.27 billion, a P/E ratio of -300.63, a PEG ratio of 6.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta has a 1 year low of $70.56 and a 1 year high of $127.57. The firm's 50 day moving average price is $109.73 and its 200-day moving average price is $96.48.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. On average, equities analysts predict that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. The trade was a 34.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,452 shares of company stock valued at $16,347,360. 5.68% of the stock is currently owned by company insiders.

Institutional Trading of Okta

A number of large investors have recently made changes to their positions in the stock. GK Wealth Management LLC boosted its stake in shares of Okta by 13.5% during the first quarter. GK Wealth Management LLC now owns 3,837 shares of the company's stock valued at $404,000 after purchasing an additional 457 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Okta by 27.2% in the first quarter. Geneos Wealth Management Inc. now owns 13,314 shares of the company's stock valued at $1,401,000 after acquiring an additional 2,848 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Okta by 3.5% in the first quarter. Focus Partners Wealth now owns 114,480 shares of the company's stock valued at $12,046,000 after acquiring an additional 3,857 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Okta in the first quarter valued at about $374,000. Finally, SCS Capital Management LLC bought a new stake in shares of Okta in the first quarter valued at about $1,266,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Company Profile

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.