A share price of Okta Inc [OKTA] is currently trading at $109.26, up 0.71%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The OKTA shares have gain 26.58% over the last week, with a monthly amount glided 28.69%, and seem to be holding up well over a long-time horizon.
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On 29, February 2024, Okta to Present at Upcoming Investor Conferences. In a post published today on Yahoo Finance, Okta, Inc. (NASDAQ: OKTA), the leading independent identity partner, today announced that members of its management team are scheduled to participate in upcoming investor conferences.
From an analyst’s perspective:
Okta Inc [NASDAQ: OKTA] stock has seen the most recent analyst activity on February 29, 2024, when BofA Securities upgraded its rating to a Buy but kept the price target unchanged to $135 for it. Previously, Mizuho downgraded its rating to Neutral on January 08, 2024, and kept the price target unchanged to $85. On January 05, 2024, downgrade downgraded it’s rating to Hold and revised its price target to $95 on the stock. Susquehanna started tracking the stock assigning a Neutral rating and suggested a price target of $75 on December 15, 2023. BMO Capital Markets reiterated its recommendation of a Market Perform and reduced its price target to $80 on November 30, 2023. Wells Fargo downgraded its rating to Equal Weight for this stock on November 30, 2023, and downed its price target to $70. In a note dated November 30, 2023, TD Cowen downgraded an Market Perform rating on this stock and revised its target price from $100 to $74.
Okta Inc experienced fluctuations in its stock price throughout the past year between $65.04 and $112.08. Currently, Wall Street analysts expect the stock to reach $119.61 within the next 12 months. Okta Inc [NASDAQ: OKTA] shares were valued at $109.26 at the most recent close of the market. An investor can expect a potential return of 9.47% based on the average OKTA price forecast.
Analyzing the OKTA fundamentals
Trailing Twelve Months sales for Okta Inc [NASDAQ:OKTA] were 2.26B which represents 18.63% growth. 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 107.21 points at the first support level, and at 105.17 for the second support level. However, for the 1st resistance point, the stock is sitting at 110.65, and for the 2nd resistance point, it is at 112.05.
Okta Inc [OKTA] reported earnings per share of $0.63 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.51/share, meaning a difference of $0.12 and a surprise factor of 23.50%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $0.44 per share as compared to estimates of $0.3 per share, a difference of $0.14 representing a surprise of 46.70%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Okta Inc [NASDAQ:OKTA] is 1.61. Further, the Quick Ratio stands at 1.61, while the Cash Ratio is 0.19. Considering the valuation of this stock, the price to sales ratio is 7.98, the price to book ratio is 3.10.
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.
