Okta (NASDAQ:OKTA) Stock Rating Reaffirmed by Guggenheim

Guggenheim reissued their buy rating on shares of Okta (NASDAQ:OKTAFree Report) in a research report report published on Tuesday, Benzinga reports. They currently have a $130.00 target price on the stock.

A number of other equities analysts also recently commented on the company. Wedbush restated an outperform rating and issued a $130.00 price objective on shares of Okta in a report on Wednesday, May 29th. Evercore ISI raised Okta from an in-line rating to an outperform rating and raised their target price for the stock from $102.00 to $122.00 in a research report on Thursday, May 30th. Canaccord Genuity Group lifted their price objective on Okta from $85.00 to $95.00 and gave the company a hold rating in a report on Thursday, February 29th. Westpark Capital raised shares of Okta from a hold rating to a buy rating and set a $140.00 target price on the stock in a report on Thursday, February 29th. Finally, UBS Group dropped their price objective on shares of Okta from $130.00 to $120.00 and set a buy rating for the company in a report on Thursday, May 30th. Nineteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $105.58.

Get Our Latest Stock Report on OKTA

Okta Stock Up 4.6 %

Okta stock opened at $92.37 on Tuesday. Okta has a 52 week low of $65.04 and a 52 week high of $114.50. The stock has a market cap of $15.54 billion, a price-to-earnings ratio of -55.31 and a beta of 1.03. The company’s 50-day moving average price is $93.37 and its two-hundred day moving average price is $92.58. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19.

Okta (NASDAQ:OKTAGet Free Report) last released its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The business had revenue of $617.00 million during the quarter, compared to analyst estimates of $604.33 million. On average, analysts expect that Okta will post -0.28 EPS for the current fiscal year.

Insider Activity

In other Okta news, Director Jacques Frederic Kerrest sold 18,878 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $87.19, for a total value of $1,645,972.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.00% of the stock is currently owned by insiders.

Institutional Trading of Okta

A number of hedge funds have recently made changes to their positions in the business. City State Bank lifted its holdings in Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after buying an additional 142 shares during the last quarter. GAMMA Investing LLC bought a new position in Okta in the 4th quarter valued at about $29,000. Venturi Wealth Management LLC boosted its holdings in shares of Okta by 50.4% during the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after acquiring an additional 131 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of Okta in the fourth quarter valued at approximately $48,000. 86.64% of the stock is owned by institutional investors and hedge funds.

About Okta

(Get Free Report)

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

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Analyst Recommendations for Okta (NASDAQ:OKTA)

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