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NASDAQ:OKTA

Okta - OKTA Stock Forecast, Price & News

$77.47

-3.80 (-4.68%)

(As of 02/3/2023 09:04 PM ET)

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Today's Range: $76.57
▼
$81.14
50-Day Range: $50.20
▼
$81.27
52-Week Range: $44.12
▼
$203.79

Volume: 2.78 million shs
Average Volume: 2.81 million shs
Market Capitalization: $12.41 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $83.76

Institutional Ownership

Okta MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.54 Rating Score
Upside/Downside: 8.1% Upside
$83.76 Price Target
Short Interest: Healthy
3.22% of Shares Sold Short
Dividend Strength: N/A
Sustainability: -0.60
Upright™ Environmental Score
News Sentiment: 0.16
Based on 22 Articles This Week
Insider Trading: Selling Shares
$805,573 Sold Last Quarter
Proj. Earnings Growth: Growing
From ($4.46) to ($3.62) Per Share

Overall MarketRank^™

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

2.21 out of 5 stars

Computer And Technology Sector

234th out of 608 stocks

Prepackaged Software Industry

72nd out of 215 stocks

2.3

Analyst's Opinion

Consensus Rating
Okta has received a consensus rating of Buy. The company's average rating score is 2.54, and is based on 21 buy ratings, 12 hold ratings, and 2 sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $83.76, Okta has a forecasted upside of 8.1% from its current price of $77.47.
Amount of Analyst Coverage
Okta has been the subject of 21 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

5.0

Short Interest

Percentage of Shares Shorted
3.22% 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 1.4, 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 12.69%, 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.

2.9

News and Social Media Coverage

News Sentiment
Okta has a news sentiment score of 0.16. 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 0.45 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 22 news articles for Okta this week, compared to 11 articles on an average week.
Search Interest
77 people have searched for OKTA on MarketBeat in the last 30 days. This is an increase of 103% compared to the previous 30 days.
MarketBeat Follows
18 people have added Okta to their MarketBeat watchlist in the last 30 days. This is an increase of 38% 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 $805,573.00 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.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Okta are expected to grow in the coming year, from ($4.46) to ($3.62) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Okta is -13.40, 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 -13.40, 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 2.05. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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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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