Okta Inc [OKTA] stock is trading at $87.30, up 0.45%. An important factor to consider is whether the stock is rising or falling in short-term value. The OKTA shares have gain 7.54% over the last week, with a monthly amount glided 0.16%, and seem to be holding up well over a long-time horizon.
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On 28, February 2024, Okta Strengthens Go to Market Leadership with Executive Appointments. In a post published today on Yahoo Finance, Eric Kelleher promoted to President, Customer Experience & Communications.
From an analyst’s perspective:
Okta Inc [NASDAQ: OKTA] stock has seen the most recent analyst activity on January 08, 2024, when Mizuho downgraded its rating to a Neutral but kept the price target unchanged to $85 for it. Previously, Jefferies downgraded its rating to Hold on January 05, 2024, and elevated its price target to $95. On December 15, 2023, Susquehanna initiated with a Neutral rating and assigned a price target of $75 on the stock. BMO Capital Markets reiterated its Market Perform rating and decreased its price target to $80 on November 30, 2023. Wells Fargo downgraded its rating to a Equal Weight and reduced its price target to $70 on November 30, 2023. TD Cowen downgraded its rating to Market Perform for this stock on November 30, 2023, and downed its price target to $74. In a note dated November 30, 2023, Scotiabank downgraded an Sector Perform rating on this stock and revised its target price from $74 to $70.
Okta Inc [OKTA] stock has fluctuated between $65.04 and $92.38 over the past year. Currently, Wall Street analysts expect the stock to reach $116.93 within the next 12 months. Okta Inc [NASDAQ: OKTA] shares were valued at $87.30 at the most recent close of the market. An investor can expect a potential return of 33.94% based on the average OKTA price forecast.
Analyzing the OKTA fundamentals
Okta Inc [NASDAQ:OKTA] reported sales of 2.17B for the trailing twelve months, which represents a growth of 21.40%. Gross Profit Margin for this corporation currently stands at 0.74% with Operating Profit Margin at -0.26%, Pretax Profit Margin comes in at -0.18%, and Net Profit Margin reading is -0.19%. To continue investigating profitability, this company’s Return on Assets is posted at -34.6, Equity is -0.07 and Total Capital is -59.12. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.22.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 85.58 points at the first support level, and at 83.86 for the second support level. However, for the 1st resistance point, the stock is sitting at 88.83, and for the 2nd resistance point, it is at 90.36.
Okta Inc [OKTA] reported earnings per share of $0.44 for its fiscal quarter that ended on 10/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.3/share, meaning a difference of $0.14 and a surprise factor of 46.70%. By comparison, the stated earnings for the previous quarter ended on 7/30/2023 were $0.31 per share as compared to estimates of $0.22 per share, a difference of $0.09 representing a surprise of 40.90%.
Ratios To Look Out For
For context, Okta Inc’s Current Ratio is 1.70. On the other hand, the Quick Ratio is 1.70, and the Cash Ratio is 0.19. Considering the valuation of this stock, the price to sales ratio is 6.66, the price to book ratio is 2.52.
Transactions by insiders
Recent insider trading involved Ninan Shibu, Chief Accounting Officer, that happened on Feb 16 when 2500.0 shares were sold., Schwartz Larissa completed a deal on Jan 16 to sell 872.0 shares. Meanwhile, Chief Executive Officer McKinnon Todd sold 7449.0 shares on Dec 18.
