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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