NASDAQ:OKTA

Okta (OKTA) Stock Forecast, Price & News

$80.19

-0.49 (-0.61%)

(As of 09/25/2023 ET)

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Today's Range: $79.80
▼
$80.61
50-Day Range: $69.76
▼
$90.08
52-Week Range: $44.12
▼
$91.50

Volume: 1.21 million shs
Average Volume: 2.52 million shs
Market Capitalization: $13.16 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $89.32

Okta MarketRank™ Forecast

Analyst Rating: Hold
2.49 Rating Score
Upside/Downside: 11.4% Upside
$89.32 Price Target
Short Interest: Healthy
3.29% of Shares Sold Short
Dividend Strength: N/A
Sustainability: -0.60
Upright™ Environmental Score
News Sentiment: -0.31
Based on 11 Articles This Week
Insider Trading: Selling Shares
$1.45 M Sold Last Quarter
Proj. Earnings Growth: Growing
From ($2.85) to ($2.60) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.42 out of 5 stars

Computer And Technology Sector

226th out of 582 stocks

Prepackaged Software Industry

55th out of 202 stocks

3.2

Analyst's Opinion

Consensus Rating
Okta has received a consensus rating of Hold. The company's average rating score is 2.49, and is based on 20 buy ratings, 12 hold ratings, and 3 sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $89.32, Okta has a forecasted upside of 11.4% from its current price of $80.19.
Amount of Analyst Coverage
Okta has been the subject of 16 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

5.0

Short Interest

Percentage of Shares Shorted
3.29% of the outstanding shares of Okta have been sold short.
Short Interest Ratio / Days to Cover
Okta has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Okta has recently decreased by 8.16%, indicating that investor sentiment is improving significantly.

0.0

Dividend Strength

Dividend Yield
Okta does not currently pay a dividend.
Dividend Growth
Okta does not have a long track record of dividend growth.

3.7

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Okta has received a 47.62% net impact score from Upright. The largest positive contribution comes from its "Knowledge infrastructure" impact, which is false driven by its "Identity management software", "Network security software", and "Cloud security software" products. See details.
Environmental Sustainability
The Environmental Impact score for Okta is -0.60.

2.1

News and Social Media Coverage

News Sentiment
Okta has a news sentiment score of -0.31. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.55 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 11 news articles for Okta this week, compared to 9 articles on an average week.
Search Interest
91 people have searched for OKTA on MarketBeat in the last 30 days. This is an increase of 107% compared to the previous 30 days.
MarketBeat Follows
40 people have added Okta to their MarketBeat watchlist in the last 30 days. This is an increase of 900% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Okta insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,453,090.00 in company stock.
Percentage Held by Insiders
Only 7.36% of the stock of Okta is held by insiders.
Percentage Held by Institutions
77.52% of the stock of Okta is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Okta are expected to grow in the coming year, from ($2.85) to ($2.60) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Okta is -21.73, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Okta is -21.73, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Okta has a P/B Ratio of 2.37. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Okta (NASDAQ:OKTA) Stock

Okta, Inc. provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta's, a suite of products and services is used 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; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions. It also provides Universal Login allows customers to provide login experience across different applications and devices; Attack Protection, a suite of security capabilities that protect from malicious traffics; Adaptive Multi-Factor Authentication that minimizes friction to end users; Passwordless authentication enables users to login without a password and supports in various login methods; Machine to Machine provides standards-based authentication and authorization; Private Cloud that allows customers to run a dedicated cloud instance of Customer Identity Cloud; In addition, the company provides organization; Actions and Extensibility; and Enterprise Connections. It sells its products directly to customers through sales force and channel partners. The company was formerly known as Saasure, Inc. Okta, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.

OKTA Price History

30 days | 90 days | 365 days | Advanced Chart

OKTA Stock News Headlines

September 13, 2023 | marketbeat.com

3 Hot Software Stocks Breaking Out to New Highs (OKTA)

In a year where the S&P North America Technology Software Index is up more than 40% year-to-date, these three software stocks are climbing to new highs.

September 5, 2023 | marketbeat.com

Is CrowdStrike's Surge A Sign Of Cybersecurity Revival? (OKTA)

As CrowdStrike approaches its best levels since November and other cybersecurity stocks rally, is a broader industry rebound on the horizon?

September 25, 2023 | Legacy Research (Ad)

WARNING: Mandatory U.S. Dollar Recall is Weeks Away

If you have any U.S. dollars in your bank account… You must see this shocking video exposing the government’s new plan to recall the U.S. dollar. According to Business Insider, this recall “could be imminent.” And if you don’t prepare now, you could end up holding a bunch of worthless U.S. dollars.

August 31, 2023 | marketbeat.com

6 Cybersecurity Stocks: Which is the Best to Buy? (OKTA)

These six cybersecurity stocks outperform their expectations and are set up to move higher on analysts' sentiment and growth.

September 25, 2023 | yahoo.com

Can the Willamette Valley Combine the Best of Napa and Burgundy to Become the Ultimate Wine Country Destination?

September 20, 2023 | finance.yahoo.com

Okta, Inc.'s (NASDAQ:OKTA) institutional investors lost 6.3% over the past week but have profited from longer-term gains

September 20, 2023 | americanbankingnews.com

Head to Head Comparison: Okta (NASDAQ:OKTA) & Cognyte Software (NASDAQ:CGNT)

September 19, 2023 | msn.com

3 Oregon restaurants make New York Times’ top 50 in U.S. list

September 25, 2023 | Legacy Research (Ad)

WARNING: Mandatory U.S. Dollar Recall is Weeks Away

September 19, 2023 | msn.com

1 Growth Stock Down 71% You'll Regret Not Buying on the Dip

September 18, 2023 | msn.com

Top business software development platform Retool breached, blames Google Authenticator

September 16, 2023 | msn.com

Okta (NASDAQ:OKTA): A Top Cybersecurity Stock for the Digital Age

September 15, 2023 | msn.com

Okta CEO on MGM breach: Companies are under 'massive attack from cybercriminals'

September 15, 2023 | msn.com

The Okta system was not breached in the recent casino cyberattacks, says CEO Todd McKinnon

September 14, 2023 | finance.yahoo.com

Okta, Inc.: We Identify Okta as a Leader in the Identity Space

September 14, 2023 | benzinga.com

What's Going On With Okta Stock Today?

September 14, 2023 | finance.yahoo.com

Unveiling Okta (OKTA)'s Value: Is It Really Priced Right? A Comprehensive Guide

September 14, 2023 | msn.com

Okta: Turnaround Remains On Track

September 13, 2023 | seekingalpha.com

Okta: Surge In Profitability

September 11, 2023 | finance.yahoo.com

Okta Stock Rebounds With Sales Changes After Vexing Acquisition

September 7, 2023 | benzinga.com

Okta Unusual Options Activity

September 7, 2023 | markets.businessinsider.com

The Latest Analyst Ratings for Okta

September 6, 2023 | finance.yahoo.com

AI macro drivers could be 'under hyped,' Okta CEO explains

September 6, 2023 | seekingalpha.com

Okta, Inc. (OKTA) Presents at Citi's 2023 Global Technology Brokers Conference (Transcript)

September 6, 2023 | seekingalpha.com

Okta, Inc. (OKTA) Goldman Sachs Communacopia & Technology Conference (Transcript)

September 5, 2023 | benzinga.com

Jamf and Okta are first to support Apple's Platform Single Sign-On framework for optimized authentication

September 5, 2023 | finance.yahoo.com

A Bull Market Is Coming: 1 Cybersecurity Stock to Buy Before It Soars

See More Headlines

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OKTA Company Calendar

Last Earnings: 8/30/2023
Today: 9/25/2023
Next Earnings (Estimated): 11/29/2023
Fiscal Year End: 1/31/2024

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Prepackaged software
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NASDAQ:OKTA
CUSIP: N/A
CIK: 1660134
Web: www.okta.com
Phone: (888) 722-7871
Fax: N/A
Employees: 6,013
Year Founded: 2009

Price Target and Rating

Average Stock Price Forecast: $89.32
High Stock Price Forecast: $120.00
Low Stock Price Forecast: $45.00
Forecasted Upside/Downside: +11.4%
Consensus Rating: Hold
Rating Score (0-4): 2.49
Research Coverage: 35 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($3.69)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-815,000,000.00
Net Margins: -28.66%
Pretax Margin: -27.75%
Return on Equity: -9.40%
Return on Assets: -5.75%

Debt

Debt-to-Equity Ratio: 0.26
Current Ratio: 1.84
Quick Ratio: 1.84

Sales & Book Value

Annual Sales: $1.86 billion
Price / Sales: 7.08
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $33.89 per share
Price / Book: 2.37

Miscellaneous

Outstanding Shares: 164,050,000
Free Float: 151,978,000
Market Cap: $13.15 billion
Optionable: Optionable
Beta: 0.99

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Key Executives

Mr. Todd McKinnon (Age 51)
Co-Founder, Chairman & CEO
Comp: $412.19k

Mr. Brett Tighe (Age 42)
Chief Financial Officer
Comp: $640.84k

Mr. Jonathan T. Runyan (Age 46)
Advisor
Comp: $632.18k

Mr. Jacques Frederic Kerrest (Age 45)
Co-Founder, Exec. Vice Chairperson & COO (Leave of Absence)

Mr. Sagnik Nandy
Pres & Chief Devel. Officer of Workforce Identity

Mr. Eugenio Pace
Co-founder & Pres of Bus. Operations

Ms. Alvina Y. Antar (Age 48)
Sr. VP & Chief Information Officer

Dave Gennarelli
VP of Investor Relations

Ms. Larissa Schwartz (Age 51)
Chief Legal Officer & Corp. Sec.

Mr. Monty Gray
Exec. VP of Corp. Devel.

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

OKTA Stock - Frequently Asked Questions

Should I buy or sell Okta stock right now?: 35 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Okta in the last twelve months. There are currently 3 sell ratings, 12 hold ratings and 20 buy ratings for the stock. The consensus among Wall Street equities research 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.
View OKTA analyst ratings or view top-rated stocks.
What is Okta's stock price forecast for 2023?: 35 analysts have issued 12-month price targets for Okta's shares. Their OKTA share price forecasts range from $45.00 to $120.00. On average, they anticipate the company's share price to reach $89.32 in the next twelve months. This suggests a possible upside of 11.4% from the stock's current price.
View analysts price targets for OKTA or view top-rated stocks among Wall Street analysts.
How have OKTA shares performed in 2023?: Okta's stock was trading at $68.33 at the beginning of the year. Since then, OKTA shares have increased by 17.4% and is now trading at $80.19.
View the best growth stocks for 2023 here.
When is Okta's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 29th 2023.
View our OKTA earnings forecast.
How were Okta's earnings last quarter?: Okta, Inc. (NASDAQ:OKTA) announced its earnings results on Wednesday, August, 30th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. The company earned $556 million during the quarter, compared to analyst estimates of $534.67 million. Okta had a negative trailing twelve-month return on equity of 9.40% and a negative net margin of 28.66%. The company's revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.19) EPS.
What ETFs hold Okta's stock?: 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).
What guidance has Okta issued on next quarter's earnings?: Okta updated its third quarter 2024 earnings guidance on Wednesday, August, 30th. The company provided earnings per share (EPS) guidance of $0.29-$0.30 for the period, compared to the consensus EPS estimate of $0.20. The company issued revenue guidance of $558.00 million-$560.00 million, compared to the consensus revenue estimate of $552.37 million.
What is Todd McKinnon's approval rating as Okta's CEO?: 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.

What other stocks do shareholders of Okta own?: 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).
When did Okta IPO?: (OKTA) raised $154 million in an initial public offering 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 acted as the underwriters for the IPO and Pacific Crest Securities (a division of KeyBanc Capital Markets), Canaccord Genuity and JMP Securities were co-managers.
What is Okta's stock symbol?: Okta trades on the NASDAQ under the ticker symbol "OKTA."
Who are Okta's major shareholders?: Okta's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Davidson Kempner Capital Management LP (0.00%), Sands Capital Management LLC (3.53%), Champlain Investment Partners LLC (2.56%), Geode Capital Management LLC (1.36%), Whale Rock Capital Management LLC (0.88%) and ArrowMark Colorado Holdings LLC (0.80%). 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.
View institutional ownership trends.
How do I buy shares of Okta?: 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.
Compare Top Brokerages Here.
What is Okta's stock price today?: One share of OKTA stock can currently be purchased for approximately $80.19.
How much money does Okta make?: Okta (NASDAQ:OKTA) has a market capitalization of $13.16 billion and generates $1.86 billion in revenue each year. The company earns $-815,000,000.00 in net income (profit) each year or ($3.69) on an earnings per share basis.
How many employees does Okta have?: The company employs 6,013 workers across the globe.
Does Okta have any subsidiaries?: The following companies are subsidiares of Okta: Azuqua, Azuqua Inc., Okta Australia Pty Limited, Okta France SAS, Okta GmbH, Okta Identity Netherlands BV, Okta SG Pte. Ltd., Okta Software Canada Inc., Okta UK LTD, ScaleFT, ScaleFT Inc., SpydrSafe Mobile Security, SpydrSafe Mobile Security Inc., Stormpath, and Workflow Automation.
Read More
How can I contact Okta?: Okta's mailing address is 100 FIRST STREET SUITE 600, SAN FRANCISCO CA, 94105. The official website for the company is www.okta.com. The company can be reached via phone at (888) 722-7871 or via email at investor@okta.com.

This page (NASDAQ:OKTA) was last updated on 9/25/2023 by MarketBeat.com Staff

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