Okta, Inc. (NASDAQ:OKTA) Receives $121.59 Average Target Price from Analysts

Shares of Okta, Inc. (NASDAQ:OKTA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the thirty-five research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $121.59.

Several equities analysts recently weighed in on OKTA shares. BTIG Research reiterated a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. Truist Financial increased their target price on Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Evercore ISI boosted their target price on shares of Okta from $122.00 to $130.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. JMP Securities restated a "market perform" rating on shares of Okta in a report on Wednesday, May 28th. Finally, UBS Group dropped their target price on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th.

Insiders Place Their Bets

In related news, insider Eric Robert Kelleher sold 5,895 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the transaction, the insider now directly owns 9,828 shares in the company, valued at $1,117,935. The trade was a 37.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,452 shares of company stock valued at $2,697,360. 5.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OKTA. Wealth Enhancement Advisory Services LLC increased its position in shares of Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after purchasing an additional 4,171 shares in the last quarter. Merit Financial Group LLC acquired a new position in Okta in the first quarter valued at approximately $823,000. SBI Securities Co. Ltd. purchased a new position in shares of Okta during the 4th quarter worth $1,686,000. GAMMA Investing LLC boosted its stake in Okta by 37,287.3% during the first quarter. GAMMA Investing LLC now owns 126,369 shares of the company's stock worth $13,297,000 after buying an additional 126,031 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Okta by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock valued at $87,903,000 after purchasing an additional 46,064 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Performance

NASDAQ OKTA traded down $2.70 during trading hours on Friday, hitting $97.48. The company's stock had a trading volume of 2,236,031 shares, compared to its average volume of 3,009,202. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company's 50 day simple moving average is $109.13 and its two-hundred day simple moving average is $98.55. Okta has a 12 month low of $70.56 and a 12 month high of $127.57. The company has a market cap of $17.07 billion, a P/E ratio of -278.51, a price-to-earnings-growth ratio of 6.42 and a beta of 0.84.

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

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.