Okta, Inc. (NASDAQ:OKTA) has received an average rating of “Hold” from the six brokerages that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $30.67.
OKTA has been the subject of a number of analyst reports. Pacific Crest initiated coverage on Okta in a research report on Tuesday, May 2nd. They set an “overweight” rating and a $32.00 price objective for the company. Goldman Sachs Group, Inc. (The) initiated coverage on Okta in a research report on Tuesday, May 2nd. They set a “neutral” rating for the company. J P Morgan Chase & Co initiated coverage on Okta in a research report on Tuesday, May 2nd. They set an “overweight” rating and a $33.00 price objective for the company. Canaccord Genuity initiated coverage on Okta in a research report on Tuesday, May 2nd. They set a “hold” rating for the company. Finally, JMP Securities initiated coverage on Okta in a research report on Tuesday, May 2nd. They set a “market perform” rating for the company.
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Okta (NASDAQ:OKTA) traded down 1.89% during midday trading on Thursday, hitting $24.93. 189,122 shares of the stock traded hands. The company’s market cap is $2.38 billion. Okta has a 52-week low of $21.52 and a 52-week high of $28.25. The firm’s 50-day moving average is $23.70 and its 200-day moving average is $24.03.
Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, June 7th. The company reported ($0.50) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.11. The company had revenue of $53 million for the quarter, compared to analyst estimates of $48.23 million. Okta’s revenue was up 66.7% compared to the same quarter last year. Analysts predict that Okta will post ($1.13) EPS for the current year.
A number of large investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in Okta during the second quarter valued at $990,000. Allen Operations LLC acquired a new stake in Okta during the second quarter valued at $1,656,000. American Century Companies Inc. acquired a new stake in Okta during the second quarter valued at $201,000. Victory Capital Management Inc. acquired a new stake in Okta during the second quarter valued at $1,203,000. Finally, Bank of New York Mellon Corp acquired a new stake in Okta during the second quarter valued at $777,000. Hedge funds and other institutional investors own 31.23% of the company’s stock.
Okta Company Profile
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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