Okta (NASDAQ:OKTA) Price Target Increased to $115.00 by Analysts at Susquehanna

Okta (NASDAQ:OKTAFree Report) had its target price boosted by Susquehanna from $70.00 to $115.00 in a report released on Monday, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other equities analysts have also recently commented on the stock. TD Cowen reissued a market perform rating and issued a $74.00 price target (down previously from $100.00) on shares of Okta in a research report on Thursday, November 30th. Truist Financial reissued a hold rating and issued a $105.00 price target (up previously from $85.00) on shares of Okta in a research report on Thursday, February 29th. Wells Fargo & Company reaffirmed an equal weight rating and set a $70.00 price objective (down from $80.00) on shares of Okta in a research report on Thursday, November 30th. Wedbush reaffirmed an outperform rating and set a $90.00 price objective on shares of Okta in a research report on Thursday, November 30th. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $95.00 price objective (up from $85.00) on shares of Okta in a research report on Friday, January 5th. Twenty research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $100.39.

Get Our Latest Analysis on Okta

Okta Trading Up 0.7 %

NASDAQ:OKTA opened at $109.26 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.23. Okta has a fifty-two week low of $65.04 and a fifty-two week high of $112.08. The company has a 50 day moving average price of $86.59 and a 200 day moving average price of $80.55.

Okta (NASDAQ:OKTAGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.76%. The company had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. As a group, equities analysts forecast that Okta will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Okta news, insider Larissa Schwartz sold 2,675 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $83.33, for a total transaction of $222,907.75. Following the transaction, the insider now directly owns 20,440 shares in the company, valued at $1,703,265.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now owns 6,539 shares in the company, valued at $590,013.97. The disclosure for this sale can be found here. Insiders sold 21,118 shares of company stock valued at $1,776,577 over the last ninety days. Corporate insiders own 7.36% of the company’s stock.

Institutional Trading of Okta

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Okta by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after purchasing an additional 438,496 shares during the last quarter. Sands Capital Management LLC grew its position in shares of Okta by 42.3% in the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after purchasing an additional 2,486,456 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Okta by 25.7% in the fourth quarter. Voya Investment Management LLC now owns 4,695,126 shares of the company’s stock valued at $425,050,000 after purchasing an additional 959,693 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of Okta by 41.7% in the second quarter. Champlain Investment Partners LLC now owns 4,159,017 shares of the company’s stock valued at $288,428,000 after purchasing an additional 1,224,405 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Okta by 28.1% in the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after purchasing an additional 897,216 shares during the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.

Okta Company Profile

(Get Free Report)

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's, a suite of products and services is used 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 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 enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions.

Read More

Analyst Recommendations for Okta (NASDAQ:OKTA)

Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.