Okta, Inc. (NASDAQ:OKTA – Get Rating) has received a consensus recommendation of “Hold” from the thirty-eight ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eighteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $84.36.
OKTA has been the subject of several research analyst reports. Cowen initiated coverage on Okta in a research report on Tuesday, December 13th. They set a “market perform” rating and a $70.00 target price for the company. Cowen assumed coverage on Okta in a research note on Tuesday, December 13th. They set a “market perform” rating and a $70.00 price target for the company. Stifel Nicolaus increased their price target on Okta from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Bank of America assumed coverage on Okta in a research note on Monday, February 13th. They set an “underperform” rating and a $64.00 price target for the company. Finally, Canaccord Genuity Group dropped their price target on Okta from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Monday, November 14th.
Okta Stock Performance
NASDAQ:OKTA opened at $81.03 on Friday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.41. Okta has a 12-month low of $44.12 and a 12-month high of $176.18. The stock has a 50-day moving average price of $73.62 and a 200 day moving average price of $64.99. The stock has a market capitalization of $12.98 billion, a P/E ratio of -15.67 and a beta of 1.12.
Insiders Place Their Bets
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Synovus Financial Corp increased its holdings in shares of Okta by 1.5% in the 2nd quarter. Synovus Financial Corp now owns 6,978 shares of the company’s stock valued at $631,000 after acquiring an additional 103 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in shares of Okta by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 18,281 shares of the company’s stock worth $1,249,000 after purchasing an additional 136 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Okta by 2.4% in the 2nd quarter. Captrust Financial Advisors now owns 5,953 shares of the company’s stock worth $538,000 after purchasing an additional 137 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Okta by 4.0% in the 4th quarter. Sunbelt Securities Inc. now owns 3,928 shares of the company’s stock worth $268,000 after purchasing an additional 151 shares in the last quarter. Finally, Toroso Investments LLC boosted its position in shares of Okta by 10.1% in the 1st quarter. Toroso Investments LLC now owns 1,717 shares of the company’s stock worth $259,000 after purchasing an additional 157 shares in the last quarter. 73.02% of the stock is currently owned by hedge funds and other institutional investors.
Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.
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