Okta (NASDAQ:OKTA) Given New $130.00 Price Target at Evercore ISI

Okta (NASDAQ:OKTA - Get Free Report) had its price objective hoisted by research analysts at Evercore ISI from $122.00 to $130.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's price target points to a potential upside of 20.34% from the company's current price.

Several other research analysts also recently commented on the stock. Susquehanna lifted their target price on shares of Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Mizuho upped their price objective on Okta from $127.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Citigroup increased their price target on Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Jefferies Financial Group reiterated a "hold" rating and issued a $135.00 price objective (up from $110.00) on shares of Okta in a report on Friday, May 23rd. Finally, Guggenheim decreased their price objective on Okta from $140.00 to $138.00 and set a "buy" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.20.

Okta Stock Performance

Okta stock traded down $17.47 during mid-day trading on Wednesday, hitting $108.03. 16,639,318 shares of the company's stock traded hands, compared to its average volume of 2,891,101. The firm has a 50 day moving average price of $109.90 and a 200 day moving average price of $96.42. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $18.75 billion, a PE ratio of -306.48, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. Okta has a one year low of $70.56 and a one year high of $127.57.

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

Insider Buying and Selling

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the sale, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the firm'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 sale, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 154,452 shares of company stock worth $16,347,360 in the last 90 days. Insiders own 5.68% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its stake in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after buying an additional 154 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Okta in the first quarter worth approximately $27,000. Harbour Investments Inc. increased its holdings in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after buying an additional 157 shares during the last quarter. Rossby Financial LCC acquired a new position in Okta during the first quarter valued at approximately $31,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Okta in the fourth quarter worth $25,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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.

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