NASDAQ:OKTA

Okta - OKTA Stock Forecast, Price & News

$84.63

+2.47 (+3.01%)

(As of 03/29/2023 02:40 PM ET)

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Today's Range: $82.85
▼
$84.85
50-Day Range: $67.67
▼
$85.96
52-Week Range: $44.12
▼
$161.61

Volume: 857,941 shs
Average Volume: 2.65 million shs
Market Capitalization: $19.21 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $85.32

Institutional Ownership

Okta MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.50 Rating Score
Upside/Downside: 1.6% Upside
$85.32 Price Target
Short Interest: Healthy
2.33% of Shares Sold Short
Dividend Strength: N/A
Sustainability: -0.60
Upright™ Environmental Score
News Sentiment: 0.30
Based on 7 Articles This Week
Insider Trading: Selling Shares
$526,343 Sold Last Quarter
Proj. Earnings Growth: Decreasing
From ($3.08) to ($3.09) Per Share

Overall MarketRank^™

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

2.04 out of 5 stars

Computer And Technology Sector

403rd out of 615 stocks

Prepackaged Software Industry

143rd out of 213 stocks

2.3

Analyst's Opinion

Consensus Rating
Okta has received a consensus rating of Buy. The company's average rating score is 2.50, and is based on 23 buy ratings, 11 hold ratings, and 4 sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $85.32, Okta has a forecasted upside of 1.6% from its current price of $83.96.
Amount of Analyst Coverage
Okta has been the subject of 24 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

5.0

Short Interest

Percentage of Shares Shorted
2.33% 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, 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 8.46%, 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.

2.4

News and Social Media Coverage

News Sentiment
Okta has a news sentiment score of 0.30. 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 0.47 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for Okta this week, compared to 10 articles on an average week.
Search Interest
142 people have searched for OKTA on MarketBeat in the last 30 days. This is an increase of 15% compared to the previous 30 days.
MarketBeat Follows
27 people have added Okta to their MarketBeat watchlist in the last 30 days. This is an increase of 125% 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 $526,343.00 in company stock.
Percentage Held by Insiders
Only 7.60% of the stock of Okta is held by insiders.
Percentage Held by Institutions
73.02% of the stock of Okta is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.0

Earnings and Valuation

Earnings Growth
Earnings for Okta are expected to decrease in the coming year, from ($3.08) to ($3.09) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Okta is -16.24, 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 -16.24, 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 3.49. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Okta (NASDAQ:OKTA) Stock

Okta, Inc. engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm's products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management. The company was founded by Todd McKinnon and J. Frederic Kerrest in 2009 and is headquartered in San Francisco, CA.

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OKTA Stock News Headlines

March 29, 2023 | americanbankingnews.com

Head-To-Head Analysis: Okta (NASDAQ:OKTA) & Varonis Systems (NASDAQ:VRNS)

March 28, 2023 | finance.yahoo.com

Okta for Government High Achieves FedRAMPⓇ High Authorization

March 29, 2023 | Weiss Ratings (Ad)

Bank Accounts: Frozen!

In 1990, the Brazilian government froze the bank accounts of thousands of citizens. In 2013, the victims were the people of Cyprus. In 2022, it hit closer to home — in Canada. And now the Federal Reserve System Docket No. OP-1670 reveals the plan to give the Fed the power to track and potentially even control your checking account. Not just the money you have in your account … But also, every single check, withdrawal, deposit and transaction. Practically everything you do with your money!

March 28, 2023 | finance.yahoo.com

The Cost of Cybercrime Is Soaring -- 2 Top Growth Stocks to Buy Now

March 20, 2023 | americanbankingnews.com

Insider Selling: Okta, Inc. (NASDAQ:OKTA) Director Sells $34,889.04 in Stock

March 20, 2023 | americanbankingnews.com

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon Sells 3,117 Shares

March 20, 2023 | americanbankingnews.com

Westpark Capital Begins Coverage on Okta (NASDAQ:OKTA)

March 19, 2023 | americanbankingnews.com

Shibu Ninan Sells 197 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

March 29, 2023 | Behind the Markets (Ad)

Buy THIS stock before Taiwan is attacked

... If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. But the good news is, if China invades Taiwan, there is a way to protect yourself.

March 19, 2023 | americanbankingnews.com

Larissa Schwartz Sells 452 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

March 17, 2023 | finance.yahoo.com

Companies looking ‘beyond obvious use cases’ for AI will have the advantage: Okta CEO

March 17, 2023 | finance.yahoo.com

3 Powerhouse Stocks to Buy Now That Are Ready for Bull Runs

March 17, 2023 | finance.yahoo.com

Better Buy: Zoom vs. Okta

March 14, 2023 | markets.businessinsider.com

Bank of America Securities Reaffirms Their Sell Rating on Okta (OKTA)

March 13, 2023 | finance.yahoo.com

2 Growth Stocks That Billionaires Are Buying Hand Over Fist in a Nasdaq Bear Market

March 12, 2023 | finance.yahoo.com

A Bull Market Is Coming: 5 Supercharged Growth Stocks I Just Bought and Plan to Hold Forever

March 10, 2023 | finance.yahoo.com

Okta Stock Has Been on a Tear. Why There’s Still Time to Buy.

March 8, 2023 | finance.yahoo.com

Why Okta (OKTA) Might be Well Poised for a Surge

March 8, 2023 | finance.yahoo.com

30 Biggest SaaS Companies in the World in 2023

March 8, 2023 | fool.com

Is It Too Late to Buy Okta Stock?

March 6, 2023 | seekingalpha.com

Okta: Outstanding Execution And Undervalued Intrinsically

March 6, 2023 | finance.yahoo.com

Okta Stock Scores Rising Relative Price Strength Rating

March 3, 2023 | finance.yahoo.com

3 Hot Tech Stocks Investors Can Buy Now at Better Valuations

March 3, 2023 | finance.yahoo.com

Okta Full Year 2023 Earnings: Revenues Beat Expectations, EPS In Line

March 2, 2023 | finance.yahoo.com

US Markets Pick Up Steam in the Afternoon and Post Gains

March 2, 2023 | wsj.com

Okta Is on Safer Ground Now

March 2, 2023 | investorplace.com

OKTA Stock Alert: What to Know as Cowen Upgrades Okta Shares

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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OKTA Company Calendar

Last Earnings: 3/01/2023
Today: 3/29/2023
Next Earnings (Estimated): 6/01/2023
Fiscal Year End: 1/31/2024

Get Stock Alerts

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: $85.32
High Stock Price Forecast: $120.00
Low Stock Price Forecast: $45.00
Forecasted Upside/Downside: +3.9%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.50
Research Coverage: 38 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($5.17)
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: -43.87%
Pretax Margin: -43.11%
Return on Equity: -12.53%
Return on Assets: -7.48%

Debt

Debt-to-Equity Ratio: 0.40
Current Ratio: 2.20
Quick Ratio: 2.20

Sales & Book Value

Annual Sales: $1.86 billion
Price / Sales: 10.04
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $24.08 per share
Price / Book: 3.41

Miscellaneous

Outstanding Shares: 226,990,000
Free Float: 209,736,000
Market Cap: $18.65 billion
Optionable: Optionable
Beta: 1.12

Social Links

Key Executives

Todd McKinnon
Chairman & Chief Executive Officer

J. Frederic Kerrest
Executive Vice Chairman & Chief Operating Officer

Brett Tighe
Chief Financial Officer

Alvina Y. Antar
Chief Information Officer & Senior Vice President

Sagnik Nandy
Chief Technology Officer & President-Technology

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?: 38 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Okta in the last twelve months. There are currently 4 sell ratings, 11 hold ratings and 23 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" OKTA shares.
View OKTA analyst ratings or view top-rated stocks.
What is Okta's stock price forecast for 2023?: 38 brokerages have issued twelve-month target prices for Okta's stock. Their OKTA share price forecasts range from $45.00 to $120.00. On average, they anticipate the company's stock price to reach $85.32 in the next year. This suggests a possible upside of 3.9% 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 2023. Since then, OKTA stock has increased by 20.2% and is now trading at $82.16.
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 Thursday, June 1st 2023.
View our OKTA earnings forecast.
How were Okta's earnings last quarter?: Okta, Inc. (NASDAQ:OKTA) posted its earnings results on Wednesday, March, 1st. The company reported ($0.70) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.11. The firm earned $510 million during the quarter, compared to the consensus estimate of $488.99 million. Okta had a negative trailing twelve-month return on equity of 12.53% and a negative net margin of 43.87%.
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), TrueShares Technology, AI & Deep Learning ETF (LRNZ), iShares Cybersecurity and Tech ETF (IHAK), WisdomTree Cybersecurity Fund (WCBR), ETFMG Prime Cyber Security ETF (HACK), ERShares Entrepreneur ETF (ENTR), First Trust Nasdaq Cybersecurity ETF (CIBR) and Sterling Capital Focus Equity ETF (LCG).
What guidance has Okta issued on next quarter's earnings?: Okta updated its first quarter 2024 earnings guidance on Wednesday, March, 1st. The company provided EPS guidance of $0.11-$0.12 for the period, compared to the consensus EPS estimate of 0. The company issued revenue guidance of $509.00 million-$511.00 million, compared to the consensus revenue estimate of $497.94 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 (IPO) on Friday, April 7th 2017. The company issued 11,000,000 shares at $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.
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 number of institutional and retail investors. Top institutional investors include Sands Capital Management LLC (3.94%), First Trust Advisors LP (2.41%), Deer Management Co. LLC (1.61%), Geode Capital Management LLC (1.30%), Soma Equity Partners LP (1.01%) and Norges Bank (0.91%). 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, Patrick W Grady, Robert L Dixon Jr, Shibu Ninan, Todd Burrowes, Todd Mckinnon, William E Losch 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 $82.16.
How much money does Okta make?: Okta (NASDAQ:OKTA) has a market capitalization of $18.65 billion and generates $1.86 billion in revenue each year. The company earns $-815,000,000.00 in net income (profit) each year or ($5.17) 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 3/29/2023 by MarketBeat.com Staff

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Okta - OKTA Stock Forecast, Price & News

Okta MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Okta (NASDAQ:OKTA) Stock

OKTA Stock News Headlines

OKTA Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Insiders & Institutions

OKTA Stock - Frequently Asked Questions

Overall MarketRank^™