Research Analysts’ Weekly Ratings Changes for Okta (OKTA)

Okta (NASDAQ: OKTA) has recently received a number of price target changes and ratings updates:

  • 8/1/2019 – Okta is now covered by analysts at BMO Capital Markets. They set a “market perform” rating and a $155.00 price target on the stock.
  • 8/1/2019 – Okta was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/18/2019 – Okta was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/17/2019 – Okta had its price target raised by analysts at Needham & Company LLC to $154.00. They now have a “buy” rating on the stock.
  • 6/24/2019 – Okta was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/21/2019 – Okta had its price target raised by analysts at Deutsche Bank AG from $124.00 to $152.00. They now have a “buy” rating on the stock.
  • 6/13/2019 – Okta had its price target raised by analysts at Oppenheimer Holdings Inc. from $115.00 to $130.00. They now have an “outperform” rating on the stock.

OKTA opened at $126.27 on Tuesday. The firm has a market cap of $15.13 billion, a P/E ratio of -122.59 and a beta of 1.01. The firm has a 50-day moving average price of $131.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.12. Okta Inc has a 1 year low of $41.88 and a 1 year high of $141.85.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. Okta had a negative net margin of 34.37% and a negative return on equity of 53.36%. The firm had revenue of $125.20 million during the quarter, compared to the consensus estimate of $116.83 million. During the same period last year, the business posted ($0.09) earnings per share. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. Research analysts expect that Okta Inc will post -1.35 EPS for the current year.

In other news, General Counsel Jonathan T. Runyan sold 493 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $127.85, for a total transaction of $63,030.05. Following the transaction, the general counsel now owns 1,406 shares in the company, valued at $179,757.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William E. Losch sold 1,108 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $127.85, for a total transaction of $141,657.80. Following the transaction, the chief financial officer now owns 11,004 shares in the company, valued at approximately $1,406,861.40. The disclosure for this sale can be found here. In the last three months, insiders sold 576,604 shares of company stock worth $73,863,056. 14.69% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP grew its position in shares of Okta by 4.2% during the 1st quarter. First Trust Advisors LP now owns 2,670,948 shares of the company’s stock valued at $220,968,000 after acquiring an additional 107,132 shares during the period. Gilder Gagnon Howe & Co. LLC raised its position in shares of Okta by 28.0% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 2,091,177 shares of the company’s stock valued at $173,003,000 after buying an additional 457,058 shares in the last quarter. Norges Bank purchased a new stake in shares of Okta during the 4th quarter valued at $53,106,000. Geode Capital Management LLC raised its position in Okta by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 828,545 shares of the company’s stock worth $52,860,000 after purchasing an additional 87,926 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Okta in the 2nd quarter worth $46,680,000. Institutional investors own 78.61% of the company’s stock.

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 to manage and secure identities, 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 their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

See Also: Cost of Goods Sold (COGS)

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