Okta Inc [OKTA] stock is trading at $92.02, up 1.84%. An important factor to consider is whether the stock is rising or falling in short-term value. The OKTA shares have gain 11.07% over the last week, with a monthly amount drifted -4.23%, 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 [OKTA] stock has fluctuated between $65.04 and $114.50 over the past year. Currently, Wall Street analysts expect the stock to reach $125.62 within the next 12 months. Okta Inc [NASDAQ: OKTA] shares were valued at $92.02 at the most recent close of the market. An investor can expect a potential return of 36.51% based on the average OKTA price forecast.
Analyzing the OKTA fundamentals
Okta Inc [NASDAQ:OKTA] reported sales of 2.36B for the trailing twelve months, which represents a growth of 19.11%. 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 89.73 points at the first support level, and at 87.44 for the second support level. However, for the 1st resistance point, the stock is sitting at 93.28, and for the 2nd resistance point, it is at 94.54.
Ratios To Look Out For
For context, Okta Inc’s Current Ratio is 1.66. On the other hand, the Quick Ratio is 1.66, and the Cash Ratio is 0.19. Considering the valuation of this stock, the price to sales ratio is 6.55, the price to book ratio is 2.60.
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.
