Research Analysts’ Weekly Ratings Changes for Okta (OKTA)

A number of firms have modified their ratings and price targets on shares of Okta (NASDAQ: OKTA) recently:

  • 5/18/2022 – Okta had its price target lowered by analysts at Morgan Stanley to $150.00. They now have a “na” rating on the stock.
  • 5/18/2022 – Okta had its price target lowered by analysts at Mizuho from $225.00 to $165.00. They now have a “buy” rating on the stock.
  • 5/17/2022 – Okta was downgraded by analysts at Zacks Investment Research from a “buy” 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. “
  • 5/16/2022 – Okta had its price target lowered by analysts at Wells Fargo & Company from $175.00 to $130.00. They now have a “na” rating on the stock.
  • 5/12/2022 – Okta had its price target lowered by analysts at DA Davidson from $225.00 to $125.00.
  • 5/5/2022 – Okta was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $132.00 price target on the stock. 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. “
  • 5/3/2022 – Okta was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 4/26/2022 – 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. “
  • 4/20/2022 – 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.

Shares of OKTA traded down $6.29 during midday trading on Tuesday, hitting $77.22. The company had a trading volume of 11,292 shares, compared to its average volume of 2,659,879. The company’s 50 day moving average price is $131.25 and its 200 day moving average price is $179.19. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -13.64 and a beta of 1.15. Okta, Inc. has a 52 week low of $77.16 and a 52 week high of $276.30. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.31.

Okta (NASDAQ:OKTAGet Rating) last released its earnings results on Wednesday, March 2nd. The company reported ($1.20) earnings per share for the quarter, topping the consensus estimate of ($1.27) by $0.07. Okta had a negative net margin of 65.25% and a negative return on equity of 13.61%. The company had revenue of $383.02 million during the quarter, compared to the consensus estimate of $359.46 million. During the same quarter in the previous year, the firm earned ($0.37) EPS. Equities analysts anticipate that Okta, Inc. will post -5.37 EPS for the current fiscal year.

In related news, CAO Christopher K. Kramer sold 1,035 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $152.92, for a total value of $158,272.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 7,655 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $152.92, for a total transaction of $1,170,602.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,537 shares of company stock valued at $2,984,147. Insiders own 7.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of OKTA. O Shaughnessy Asset Management LLC increased its stake in Okta by 75.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 686 shares of the company’s stock worth $163,000 after purchasing an additional 294 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Okta by 5.6% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 3,912 shares of the company’s stock worth $928,000 after acquiring an additional 208 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Okta by 13.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,263 shares of the company’s stock worth $1,486,000 after acquiring an additional 758 shares during the period. First Republic Investment Management Inc. boosted its position in Okta by 29.2% during the 3rd quarter. First Republic Investment Management Inc. now owns 40,339 shares of the company’s stock worth $9,574,000 after acquiring an additional 9,124 shares during the period. Finally, Impax Asset Management Group plc boosted its position in Okta by 149.2% during the 3rd quarter. Impax Asset Management Group plc now owns 9,687 shares of the company’s stock worth $2,299,000 after acquiring an additional 5,800 shares during the period. 76.18% of the stock is currently owned by 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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