Somewhat Positive Media Coverage Somewhat Unlikely to Affect Okta (OKTA) Stock Price

News articles about Okta (NASDAQ:OKTA) have been trending somewhat positive recently, according to Accern. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Okta earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned media headlines about the company an impact score of 45.3755301724233 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

Here are some of the news stories that may have impacted Accern Sentiment’s rankings:

Okta (NASDAQ OKTA) opened at $28.72 on Friday. Okta has a twelve month low of $21.52 and a twelve month high of $33.64.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, September 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.03). The firm had revenue of $61.00 million during the quarter, compared to the consensus estimate of $55.90 million. Okta’s revenue for the quarter was up 63.1% compared to the same quarter last year. equities analysts forecast that Okta will post -0.96 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on OKTA shares. KeyCorp restated a “buy” rating on shares of Okta in a research note on Friday, September 1st. Zacks Investment Research raised Okta from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Wednesday, September 20th. Canaccord Genuity raised their target price on Okta from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, September 8th. Oppenheimer initiated coverage on Okta in a research report on Tuesday, October 10th. They issued an “outperform” rating and a $32.00 target price for the company. Finally, William Blair initiated coverage on Okta in a report on Wednesday, October 4th. They set an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Okta presently has an average rating of “Buy” and an average target price of $32.71.

In other Okta news, COO Jacques Frederic Kerrest sold 122,504 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $28.59, for a total value of $3,502,389.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 49,545 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $28.59, for a total value of $1,416,491.55. The disclosure for this sale can be found here. Insiders sold a total of 1,231,569 shares of company stock valued at $34,925,178 over the last quarter.

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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.

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

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