Several other equities research analysts have also commented on OKTA. Citigroup decreased their price objective on shares of Okta from $98.00 to $65.00 in a research note on Sunday, November 13th. Sumitomo Mitsui Financial Group began coverage on shares of Okta in a research note on Wednesday, January 4th. They issued an outperform rating and a $90.00 price objective for the company. Wedbush began coverage on shares of Okta in a research note on Wednesday, December 14th. They issued an outperform rating and a $86.00 price objective for the company. Truist Financial decreased their price objective on shares of Okta from $70.00 to $60.00 in a research note on Thursday, November 10th. Finally, Wolfe Research reduced their target price on shares of Okta from $100.00 to $70.00 and set an outperform rating for the company in a research report on Friday, November 11th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $87.27.
Okta Trading Down 3.6 %
OKTA opened at $68.59 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.30 and a quick ratio of 2.30. Okta has a fifty-two week low of $44.12 and a fifty-two week high of $210.41. The firm has a market capitalization of $10.99 billion, a PE ratio of -11.87 and a beta of 1.05. The company’s 50-day moving average is $62.22 and its 200 day moving average is $71.16.
Hedge Funds Weigh In On Okta
A number of large investors have recently added to or reduced their stakes in the business. Johnson & White Wealth Management LLC purchased a new position in Okta in the 4th quarter worth $710,000. Maryland State Retirement & Pension System purchased a new position in Okta in the 4th quarter worth $790,000. Diversified Trust Co increased its position in shares of Okta by 22.7% in the fourth quarter. Diversified Trust Co now owns 14,961 shares of the company’s stock valued at $1,022,000 after acquiring an additional 2,763 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Okta by 3,773.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 522,448 shares of the company’s stock valued at $35,699,000 after acquiring an additional 508,959 shares during the period. Finally, Toroso Investments LLC increased its position in shares of Okta by 6.1% in the third quarter. Toroso Investments LLC now owns 2,866 shares of the company’s stock valued at $163,000 after acquiring an additional 165 shares during the period. Hedge funds and other institutional investors own 73.02% of the company’s stock.
Okta Company Profile
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.
- Get a free copy of the StockNews.com research report on Okta (OKTA)
- Procter & Gamble Earnings: A Gamble Worth Taking
- Stocks Slide, Economic Report Paints Gloomy Picture For Economy
- What does Nu Holdings Stock Have To Do With Warren Buffett?
- J.B. Hunt Gets A Flat, Logistic Companies Come Into Focus
- Is Intel Stock On The Verge Of Breaking Out?
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.