JMP Securities Reaffirms "Market Perform" Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA - Get Free Report)'s stock had its "market perform" rating reissued by equities research analysts at JMP Securities in a report released on Wednesday, Marketbeat Ratings reports.

A number of other research firms also recently issued reports on OKTA. Guggenheim restated a "buy" rating and set a $140.00 target price (up from $130.00) on shares of Okta in a research report on Tuesday, May 20th. Oppenheimer lifted their price objective on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Canaccord Genuity Group upped their target price on Okta from $100.00 to $115.00 and gave the stock a "hold" rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on Okta from $107.00 to $123.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, DA Davidson boosted their price target on Okta from $125.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $121.59.

Okta Stock Down 3.6%

NASDAQ:OKTA traded down $3.83 during trading hours on Wednesday, reaching $102.80. The company's stock had a trading volume of 7,711,011 shares, compared to its average volume of 2,942,376. The company has a market capitalization of $17.85 billion, a P/E ratio of -293.71, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta has a 12 month low of $70.56 and a 12 month high of $127.57. The stock has a 50 day moving average price of $109.26 and a two-hundred day moving average price of $96.97.

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

Insider Buying and Selling at Okta

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction that occurred 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. Insiders have sold 154,452 shares of company stock valued at $16,347,360 over the last quarter. Corporate insiders own 5.68% of the company's stock.

Institutional Trading of Okta

A number of institutional investors have recently modified their holdings of OKTA. Bank of Jackson Hole Trust acquired a new position in shares of Okta during the fourth quarter worth about $25,000. Wolff Wiese Magana LLC lifted its holdings in Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after buying an additional 154 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Okta in the 1st quarter valued at about $27,000. Harbour Investments Inc. grew its stake in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after acquiring an additional 157 shares in the last quarter. Finally, Rossby Financial LCC acquired a new stake in shares of Okta during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

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.