Okta - OKTA Stock Forecast, Price & News

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 Identity Cloud, a platform that offers a suite of products and services, 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 that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure. It also provides Auth0 products, including Universal Login that 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 Auth0; and Organizations that enables customers to independent configurations, login experiences, and security options. It offers customer support, training, and professional services. 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 Performance

OKTA opened at $104.15 on Friday. The firm has a market cap of $16.43 billion, a P/E ratio of -16.30 and a beta of 1.05. The firm has a 50-day moving average of $96.24 and a 200 day moving average of $127.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.45 and a current ratio of 2.45. Okta has a fifty-two week low of $77.01 and a fifty-two week high of $276.30.

Okta (NASDAQ:OKTA - Get Rating) last posted its quarterly earnings results on Thursday, June 2nd. The company reported ($1.36) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.01. The company had revenue of $414.94 million during the quarter, compared to analyst estimates of $388.77 million. Okta had a negative net margin of 67.06% and a negative return on equity of 13.13%. The firm's revenue for the quarter was up 65.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.59) earnings per share. On average, research analysts expect that Okta will post -5.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OKTA. Wells Fargo & Company boosted their target price on shares of Okta from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 3rd. Stifel Nicolaus decreased their price target on shares of Okta from $195.00 to $115.00 in a research note on Friday, June 3rd. Stephens assumed coverage on shares of Okta in a research note on Friday, June 3rd. They set a "buy" rating and a $145.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Okta from $195.00 to $130.00 in a research note on Friday, June 3rd. Finally, JMP Securities decreased their price target on shares of Okta from $260.00 to $165.00 and set a "market outperform" rating for the company in a research note on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $166.30.

Insider Activity at Okta

In related news, insider Ledger Susan St. sold 2,660 shares of the stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $79.97, for a total transaction of $212,720.20. Following the completion of the transaction, the insider now owns 36,641 shares in the company, valued at $2,930,180.77. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Ledger Susan St. sold 2,660 shares of the stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $79.97, for a total transaction of $212,720.20. Following the completion of the transaction, the insider now owns 36,641 shares in the company, valued at $2,930,180.77. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Christopher K. Kramer sold 831 shares of the company's stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $79.97, for a total transaction of $66,455.07. Following the sale, the chief accounting officer now directly owns 14,316 shares in the company, valued at $1,144,850.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,442 shares of company stock worth $1,316,786. 7.60% of the stock is owned by company insiders.