Okta Inc (OKTA) Given Consensus Recommendation of “Buy” by Analysts

Shares of Okta Inc (NASDAQ:OKTA) have received a consensus rating of “Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $33.88.

Several brokerages have recently commented on OKTA. Needham & Company LLC began coverage on Okta in a research report on Wednesday, February 14th. They issued a “buy” rating and a $38.00 target price for the company. KeyCorp reaffirmed a “buy” rating and issued a $35.00 target price on shares of Okta in a research report on Friday, November 10th. FBN Securities began coverage on Okta in a research report on Monday, January 22nd. They issued an “outperform” rating and a $35.00 target price for the company. BidaskClub raised Okta from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Finally, Zacks Investment Research cut Okta from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th.

In related news, insider Ventures Iv L.P. Khosla sold 300,000 shares of Okta stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William E. Losch sold 20,400 shares of Okta stock in a transaction on Monday, February 12th. The shares were sold at an average price of $30.04, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 848,452 shares of company stock valued at $23,480,455.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Okta during the third quarter valued at about $128,000. Paulson & CO. Inc. bought a new position in Okta during the second quarter valued at about $171,000. Hershey Trust Co. bought a new position in Okta during the fourth quarter valued at about $195,000. Invictus RG bought a new position in Okta during the third quarter valued at about $211,000. Finally, The Manufacturers Life Insurance Company bought a new position in Okta during the second quarter valued at about $219,000. 28.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Okta (OKTA) traded up $1.09 during trading on Thursday, hitting $35.84. The stock had a trading volume of 1,819,997 shares, compared to its average volume of 1,555,494. The firm has a market capitalization of $3,640.00 and a PE ratio of -31.17. Okta has a 1-year low of $21.52 and a 1-year high of $36.08.

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

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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.

Analyst Recommendations for Okta (NASDAQ:OKTA)

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