Okta (OKTA) Getting Somewhat Favorable News Coverage, Analysis Shows

Media coverage about Okta (NASDAQ:OKTA) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Okta earned a media sentiment score of 0.19 on Accern’s scale. Accern also gave press coverage about the company an impact score of 45.2500020590401 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

These are some of the news stories that may have impacted Accern Sentiment’s analysis:

OKTA has been the topic of several research reports. BidaskClub raised shares of Okta from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Zacks Investment Research lowered shares of Okta from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. SunTrust Banks initiated coverage on shares of Okta in a report on Friday, October 27th. They set a “buy” rating and a $36.00 price target on the stock. Needham & Company LLC initiated coverage on shares of Okta in a report on Wednesday, February 14th. They set a “buy” rating and a $38.00 price target on the stock. Finally, KeyCorp reaffirmed a “buy” rating and set a $35.00 price target on shares of Okta in a report on Friday, November 10th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Okta has an average rating of “Buy” and an average target price of $33.78.

Shares of Okta (NASDAQ:OKTA) opened at $34.75 on Monday. Okta has a 1-year low of $21.52 and a 1-year high of $34.91.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, December 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.05. Okta had a negative net margin of 46.70% and a negative return on equity of 169.65%. equities research analysts forecast that Okta will post -1.48 earnings per share for the current year.

In other Okta news, CFO William E. Losch sold 20,400 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $30.04, for a total transaction of $612,816.00. Following the sale, the chief financial officer now directly owns 20,400 shares of the company’s stock, valued at approximately $612,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ventures Iv L.P. Khosla sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $25.49, for a total transaction of $7,647,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 848,452 shares of company stock worth $23,480,455 over the last three months.

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About Okta

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.

Insider Buying and Selling by Quarter for Okta (NASDAQ:OKTA)

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