Okta (NASDAQ:OKTA) Given New $110.00 Price Target at JPMorgan Chase & Co.

Okta (NASDAQ:OKTAFree Report) had its target price increased by JPMorgan Chase & Co. from $105.00 to $110.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

OKTA has been the topic of several other reports. Needham & Company LLC restated a buy rating and set a $130.00 price objective on shares of Okta in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of Okta from $105.00 to $120.00 and gave the company a buy rating in a research note on Thursday, February 29th. Wedbush reiterated an outperform rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday. Royal Bank of Canada boosted their price objective on shares of Okta from $95.00 to $125.00 and gave the company an outperform rating in a report on Thursday, February 29th. Finally, BMO Capital Markets boosted their price objective on shares of Okta from $80.00 to $110.00 and gave the company a market perform rating in a report on Thursday, February 29th. Nineteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $104.81.

Check Out Our Latest Stock Report on Okta

Okta Price Performance

Shares of OKTA stock opened at $88.81 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta has a 1 year low of $65.04 and a 1 year high of $114.50. The firm’s fifty day moving average price is $98.33 and its two-hundred day moving average price is $90.20.

Okta (NASDAQ:OKTAGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.35. The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.84%. As a group, analysts expect that Okta will post -1.51 EPS for the current year.

Insider Buying and Selling

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the transaction, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Okta

Several large investors have recently modified their holdings of OKTA. Principal Financial Group Inc. boosted its stake in Okta by 6.0% during the third quarter. Principal Financial Group Inc. now owns 12,339 shares of the company’s stock worth $1,006,000 after acquiring an additional 694 shares in the last quarter. NBC Securities Inc. bought a new position in Okta during the third quarter worth $27,000. Versor Investments LP bought a new position in Okta during the third quarter worth $313,000. Sigma Planning Corp boosted its stake in Okta by 20.5% during the third quarter. Sigma Planning Corp now owns 4,177 shares of the company’s stock worth $340,000 after acquiring an additional 710 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Okta during the third quarter worth $39,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

About Okta

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Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

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Analyst Recommendations for Okta (NASDAQ:OKTA)

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