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 Stock Up 1.6 %
Okta stock opened at $104.15 on Monday. Okta has a 1-year low of $77.01 and a 1-year high of $276.30. The business has a fifty day moving average price of $96.24 and a 200-day moving average price of $126.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.45 and a quick ratio of 2.45. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of -16.30 and a beta of 1.05.
Okta (NASDAQ:OKTA - Get Rating) last issued its quarterly earnings results on Thursday, June 2nd. The company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.01. Okta had a negative return on equity of 13.13% and a negative net margin of 67.06%. The business had revenue of $414.94 million during the quarter, compared to the consensus estimate of $388.77 million. During the same quarter last year, the company earned ($0.59) earnings per share. The company's quarterly revenue was up 65.3% on a year-over-year basis. Equities research analysts forecast that Okta will post -5.56 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on OKTA. Piper Sandler lowered their target price on shares of Okta from $150.00 to $130.00 in a research note on Wednesday, July 13th. BMO Capital Markets boosted their price objective on shares of Okta from $108.00 to $125.00 in a research report on Friday, June 3rd. Stephens started coverage on shares of Okta in a research report on Friday, June 3rd. They set a "buy" rating and a $145.00 target price on the stock. Summit Insights reiterated a "buy" rating on shares of Okta in a report on Thursday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Okta from $195.00 to $130.00 in a report on Friday, June 3rd. One 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. Based on data from MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and a consensus price target of $166.30.
Insider Buying and Selling
In other Okta news, CAO Christopher K. Kramer sold 831 shares of the company's stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $79.97, for a total transaction of $66,455.07. Following the transaction, the chief accounting officer now owns 14,316 shares in the company, valued at approximately $1,144,850.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Okta news, CAO Christopher K. Kramer sold 831 shares of Okta stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $79.97, for a total transaction of $66,455.07. Following the completion of the sale, the chief accounting officer now owns 14,316 shares of the company's stock, valued at approximately $1,144,850.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $212,720.20. Following the completion of the transaction, the insider now directly owns 36,641 shares in the company, valued at $2,930,180.77. The disclosure for this sale can be found here. Insiders sold 16,442 shares of company stock worth $1,316,786 in the last three months. Corporate insiders own 7.60% of the company's stock.
