Okta Stock Price, News & Analysis (NASDAQ:OKTA)

35 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Okta in the last year. There are currently 2 sell ratings, 19 hold ratings and 14 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" OKTA shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in OKTA, but not buy additional shares or sell existing shares.
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35 equities research analysts have issued 1 year target prices for Okta's stock. Their OKTA share price targets range from $64.00 to $120.00. On average, they anticipate the company's share price to reach $86.86 in the next year. This suggests a possible upside of 20.6% from the stock's current price.
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Okta's stock was trading at $68.33 on January 1st, 2023. Since then, OKTA shares have increased by 5.4% and is now trading at $72.00.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, March 6th 2024.
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Okta, Inc. (NASDAQ:OKTA) released its quarterly earnings results on Wednesday, November, 29th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.30 by $0.14. The company had revenue of $584 million for the quarter, compared to analysts' expectations of $560.58 million. Okta had a negative trailing twelve-month return on equity of 7.59% and a negative net margin of 21.40%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.09) EPS.

ETFs with the largest weight of Okta (NASDAQ:OKTA) stock in their portfolio include Global X Cybersecurity ETF (BUG), Sterling Capital Focus Equity ETF (LCG), ETFMG Prime Cyber Security ETF (HACK), WisdomTree Cybersecurity Fund (WCBR), iShares Cybersecurity and Tech ETF (IHAK), SPDR S&P Internet ETF (XWEB), TrueShares Technology, AI & Deep Learning ETF (LRNZ) and American CenturyFocused Dynamic Growth ETF (FDG).

Okta issued an update on its fourth quarter earnings guidance on Wednesday, November, 29th. The company provided earnings per share guidance of $0.50-0.51 for the period, compared to the consensus EPS estimate of $0.35. The company issued revenue guidance of $585-587 million, compared to the consensus revenue estimate of $580.36 million.

302 employees have rated Okta Chief Executive Officer Todd McKinnon on Glassdoor.com. Todd McKinnon has an approval rating of 95% among the company's employees. This puts Todd McKinnon in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Okta investors own include NVIDIA (NVDA), Shopify (SHOP), Twilio (TWLO), Trade Desk (TTD), Block (SQ), Salesforce (CRM), PayPal (PYPL), Netflix (NFLX), Advanced Micro Devices (AMD) and Alibaba Group (BABA).

(OKTA) raised $154 million in an initial public offering (IPO) on Friday, April 7th 2017. The company issued 11,000,000 shares at a price of $13.00-$15.00 per share. Goldman, Sachs, J.P. Morgan Securities and Allen & Company served as the underwriters for the IPO and Pacific Crest Securities (a division of KeyBanc Capital Markets), Canaccord Genuity and JMP Securities were co-managers.

Okta's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Sands Capital Management LLC (3.58%), Eminence Capital LP (0.98%), Legal & General Group Plc (0.70%), Northern Trust Corp (0.58%), Charles Schwab Investment Management Inc. (0.57%) and Jacobs Levy Equity Management Inc. (0.43%). Insiders that own company stock include Benjamin A Horowitz, Brett Tighe, Charles Race, Christopher K Kramer, Christopher K Kramer, Jacques Frederic Kerrest, Jonathan T Runyan, Jonathan T Runyan, L Michelle Wilson, Larissa Schwartz, Ledger Susan St, Michael R Kourey, Robert L Dixon Jr, Shibu Ninan, Todd Burrowes, Todd Mckinnon and William E Losch.
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Shares of OKTA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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