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DOW   31,496.30
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S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
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Okta (NASDAQ:OKTA) Receives New Coverage from Analysts at Deutsche Bank Aktiengesellschaft

Last updated on Tuesday, February 23, 2021 | 2021 MarketBeat

Investment analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Okta (NASDAQ:OKTA) in a research report issued on Tuesday, The Fly reports. The firm set a "buy" rating on the stock.

Other analysts also recently issued reports about the company. Piper Sandler downgraded Okta from an "overweight" rating to a "neutral" rating and set a $250.00 price objective for the company. in a report on Monday, January 4th. Pritchard Capital upped their price objective on Okta from $266.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday, December 3rd. They noted that the move was a valuation call. The Goldman Sachs Group increased their price target on Okta from $240.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, December 3rd. Canaccord Genuity boosted their price objective on Okta from $250.00 to $300.00 and gave the stock a "hold" rating in a research note on Tuesday, February 16th. Finally, Oppenheimer reissued an "outperform" rating and set a $295.00 price target on shares of Okta in a research report on Thursday, February 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of "Buy" and an average price target of $248.05.

Shares of OKTA opened at $274.47 on Tuesday. The stock has a fifty day moving average of $267.94 and a two-hundred day moving average of $236.86. The company has a debt-to-equity ratio of 2.51, a quick ratio of 4.80 and a current ratio of 4.80. The company has a market capitalization of $35.53 billion, a PE ratio of -142.21 and a beta of 0.99. Okta has a fifty-two week low of $88.66 and a fifty-two week high of $294.00.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 1st. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $217.40 million during the quarter, compared to the consensus estimate of $203.15 million. Okta had a negative return on equity of 31.29% and a negative net margin of 31.38%. The business's revenue for the quarter was up 42.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) EPS. As a group, equities research analysts forecast that Okta will post -1.31 earnings per share for the current fiscal year.

In related news, CAO Christopher K. Kramer sold 1,378 shares of the business's stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $258.91, for a total transaction of $356,777.98. Following the transaction, the chief accounting officer now directly owns 6,369 shares of the company's stock, valued at $1,648,997.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher K. Kramer sold 940 shares of the business's stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $260.99, for a total transaction of $245,330.60. Following the transaction, the chief accounting officer now directly owns 6,089 shares in the company, valued at $1,589,168.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,650 shares of company stock worth $61,793,057. 12.02% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Black Swift Group LLC purchased a new position in Okta during the fourth quarter valued at approximately $25,000. Addison Advisors LLC purchased a new position in Okta during the fourth quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new position in Okta during the third quarter valued at approximately $1,546,000. International Assets Investment Management LLC purchased a new position in Okta during the fourth quarter valued at approximately $28,000. Finally, Arkadios Wealth Advisors bought a new stake in Okta in the fourth quarter worth approximately $29,000. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

Okta Company Profile

Okta, Inc provides identity management platforms 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; and 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.

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The Fly

Analyst Recommendations for Okta (NASDAQ:OKTA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


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