A share price of Okta Inc [OKTA] is currently trading at $88.65, up 3.37%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The OKTA shares have lost -2.99% over the last week, with a monthly amount drifted -4.46%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Okta Inc [NASDAQ: OKTA] stock has seen the most recent analyst activity on May 30, 2024, when Evercore ISI upgraded its rating to a Outperform and also boosted its price target to $122 from $102. Previously, BofA Securities upgraded its rating to Buy on February 29, 2024, and kept the price target unchanged to $135. On January 08, 2024, downgrade downgraded it’s rating to Neutral but maintained its price target of $85 on the stock. Jefferies downgraded its rating to a Hold and increased its price target to $95 on January 05, 2024. Susquehanna initiated its recommendation with a Neutral and recommended $75 as its price target on December 15, 2023. BMO Capital Markets reiterated a Market Perform rating for this stock on November 30, 2023, and downed its price target to $80. In a note dated November 30, 2023, Wells Fargo downgraded an Equal Weight rating on this stock and revised its target price from $80 to $70.
Okta Inc experienced fluctuations in its stock price throughout the past year between $65.04 and $114.50. Currently, Wall Street analysts expect the stock to reach $125.62 within the next 12 months. Okta Inc [NASDAQ: OKTA] shares were valued at $88.65 at the most recent close of the market. An investor can expect a potential return of 41.7% based on the average OKTA price forecast.
Analyzing the OKTA fundamentals
Trailing Twelve Months sales for Okta Inc [NASDAQ:OKTA] were 2.36B which represents 19.11% growth. Gross Profit Margin for this corporation currently stands at 0.75% with Operating Profit Margin at -0.17%, Pretax Profit Margin comes in at -0.1%, and Net Profit Margin reading is -0.12%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.05 and Total Capital is -0.06. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.19.
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 86.69 points at the first support level, and at 84.72 for the second support level. However, for the 1st resistance point, the stock is sitting at 89.93, and for the 2nd resistance point, it is at 91.20.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Okta Inc [NASDAQ:OKTA] is 1.66. Also, the Quick Ratio is 1.66, while the Cash Ratio stands at 0.19. Considering the valuation of this stock, the price to sales ratio is 6.31, the price to book ratio is 2.50.
Transactions by insiders
Recent insider trading involved McKinnon Todd, Chief Executive Officer, that happened on Jul 22 ’24 when 92729.0 shares were sold. Chief Executive Officer, McKinnon Todd completed a deal on Jul 19 ’24 to sell 0.18 million shares. Meanwhile, Director Kerrest Jacques Frederic sold 26618.0 shares on Jul 16 ’24.
