Recent Analysts’ Ratings Updates for Okta (OKTA)

A number of research firms have changed their ratings and price targets for Okta (NASDAQ: OKTA):

  • 4/20/2022 – Okta was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 4/14/2022 – Okta was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 4/13/2022 – Okta had its price target lowered by analysts at Morgan Stanley from $270.00 to $200.00. They now have an “overweight” rating on the stock.
  • 4/5/2022 – Okta had its price target lowered by analysts at KeyCorp from $225.00 to $190.00. They now have an “overweight” rating on the stock.
  • 4/5/2022 – Okta was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Okta, Inc. is a provider of identity for the enterprise. The Company’s product consists of Okta information technology Products and Okta for Developers. Okta IT Products include Single Sign-On, Mobility Management, Adaptive Multi-Factor Authentication, Lifecycle Management and Universal Directory. Okta for Developers include Complete Authentication, User Management, Application Programming Interface Access Management and Developer Tools. Okta, Inc. is based in SAN FRANCISCO, United States. “
  • 4/4/2022 – Okta had its price target lowered by analysts at Wells Fargo & Company from $235.00 to $175.00. They now have an “overweight” rating on the stock.
  • 4/3/2022 – Okta had its price target lowered by analysts at BTIG Research from $273.00 to $216.00.
  • 3/23/2022 – Okta was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
  • 3/22/2022 – Okta was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $170.00 price target on the stock, down previously from $270.00.
  • 3/21/2022 – Okta had its price target lowered by analysts at Stifel Nicolaus from $200.00 to $195.00. They now have a “hold” rating on the stock.
  • 3/8/2022 – Okta was upgraded by analysts at Mizuho from a “neutral” rating to a “buy” rating.
  • 3/4/2022 – Okta had its price target lowered by analysts at Guggenheim from $265.00 to $240.00. They now have a “buy” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Raymond James from $310.00 to $260.00. They now have a “strong-buy” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Wells Fargo & Company from $275.00 to $235.00. They now have an “overweight” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Wolfe Research from $260.00 to $225.00. They now have an “outperform” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at BMO Capital Markets from $270.00 to $215.00. They now have an “outperform” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Oppenheimer Holdings Inc. from $295.00 to $250.00. They now have an “outperform” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at JPMorgan Chase & Co. from $230.00 to $197.00. They now have a “neutral” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Citigroup Inc. from $215.00 to $205.00. They now have a “neutral” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Stifel Nicolaus from $250.00 to $200.00. They now have a “hold” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Needham & Company LLC from $320.00 to $235.00. They now have a “buy” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $250.00 to $195.00. They now have a “buy” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at Mizuho from $230.00 to $225.00. They now have a “buy” rating on the stock.
  • 3/3/2022 – Okta had its price target lowered by analysts at DA Davidson from $250.00 to $225.00.
  • 3/3/2022 – Okta had its price target lowered by analysts at Robert W. Baird from $230.00 to $195.00.
  • 2/28/2022 – Okta had its price target lowered by analysts at Royal Bank of Canada from $300.00 to $260.00. They now have an “outperform” rating on the stock.
  • 2/22/2022 – Okta was upgraded by analysts at JMP Securities from a “market perform” rating to an “outperform” rating. They now have a $260.00 price target on the stock.
  • 2/22/2022 – Okta had its price target lowered by analysts at Canaccord Genuity Group Inc. from $320.00 to $215.00. They now have a “buy” rating on the stock.

Shares of NASDAQ:OKTA traded down $4.29 during mid-day trading on Wednesday, hitting $144.76. 1,361,235 shares of the company traded hands, compared to its average volume of 2,568,081. The firm has a market cap of $22.68 billion, a P/E ratio of -25.58 and a beta of 1.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.45 and a current ratio of 2.45. Okta, Inc. has a 52-week low of $135.46 and a 52-week high of $287.44. The firm’s 50 day simple moving average is $161.66 and its 200 day simple moving average is $203.03.

Okta (NASDAQ:OKTAGet Rating) last issued its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. Okta had a negative return on equity of 13.61% and a negative net margin of 65.25%. During the same quarter last year, the firm posted ($0.37) earnings per share. Equities research analysts expect that Okta, Inc. will post -5.35 EPS for the current fiscal year.

In related news, insider Ledger Susan St. sold 5,879 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $152.92, for a total value of $899,016.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Tighe sold 2,858 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $152.92, for a total value of $437,045.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,437 shares of company stock valued at $2,972,306. Insiders own 9.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Global Trust Asset Management LLC bought a new stake in Okta during the 4th quarter valued at $30,000. Glassman Wealth Services raised its stake in Okta by 129.2% during the 3rd quarter. Glassman Wealth Services now owns 149 shares of the company’s stock valued at $35,000 after acquiring an additional 84 shares in the last quarter. KB Financial Partners LLC bought a new stake in shares of Okta in the 4th quarter worth $42,000. Aquire Wealth Advisors LLC bought a new stake in shares of Okta in the 4th quarter worth $45,000. Finally, Richelieu Gestion PLC bought a new stake in shares of Okta in the 1st quarter worth $51,000. 73.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

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