Analysts Set Okta, Inc. (NASDAQ:OKTA) Price Target at $105.58

Okta, Inc. (NASDAQ:OKTA) has earned an average rating of “Hold” from the thirty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Nineteen analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $105.58.

Several analysts have issued reports on OKTA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Okta in a research report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Okta in a research note on Monday, June 17th. Susquehanna cut their target price on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Mizuho raised their target price on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Finally, Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and raised their target price for the company from $102.00 to $122.00 in a research note on Thursday, May 30th.

Insiders Place Their Bets

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Jacques Frederic Kerrest sold 1,552 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares in the company, valued at $2,963,014.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,256 shares of company stock worth $34,154,578. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. City State Bank raised its stake in shares of Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares during the period. GAMMA Investing LLC acquired a new position in shares of Okta during the fourth quarter worth approximately $29,000. Venturi Wealth Management LLC lifted 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 buying an additional 131 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in shares of Okta during the second quarter worth approximately $47,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Up 0.4 %

OKTA opened at $93.48 on Tuesday. The firm has a 50 day moving average price of $92.85 and a 200 day moving average price of $94.05. The company has a market cap of $15.73 billion, a PE ratio of -55.98 and a beta of 1.03. Okta has a 1 year low of $65.04 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. The firm had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. Sell-side analysts expect that Okta will post -0.28 earnings per share for the current year.

Okta Company Profile

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.