Okta Inc [OKTA] stock is trading at $74.86, down -1.28%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The OKTA shares have gain 1.31% over the last week, with a monthly amount drifted -23.45%, 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 August 29, 2024, when BMO Capital Markets reiterated its Market Perform rating and also boosted its price target to $103 from $100. Previously, BofA Securities downgraded its rating to Underperform on August 29, 2024, and dropped its price target to $75. On May 30, 2024, upgrade upgraded it’s rating to Outperform and revised its price target to $122 on the stock. BofA Securities upgraded its rating to a Buy but stick to its price target of $135 on February 29, 2024. Mizuho downgraded its rating to a Neutral but $85 remained the price target by the analyst firm on January 08, 2024. Jefferies downgraded its rating to Hold for this stock on January 05, 2024, and upped its price target to $95. In a note dated December 15, 2023, Susquehanna initiated an Neutral rating and provided a target price of $75 on this stock.
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 $120.69 within the next 12 months. Okta Inc [NASDAQ: OKTA] shares were valued at $74.86 at the most recent close of the market. An investor can expect a potential return of 61.22% based on the average OKTA price forecast.
Analyzing the OKTA fundamentals
Okta Inc [NASDAQ:OKTA] reported sales of 2.45B for the trailing twelve months, which represents a growth of 16.19%. Gross Profit Margin for this corporation currently stands at 0.76% with Operating Profit Margin at -0.11%, Pretax Profit Margin comes in at -0.05%, and Net Profit Margin reading is -0.06%. To continue investigating profitability, this company’s Return on Assets is posted at -0.01, Equity is -0.02 and Total Capital is -0.04. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.2.
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 74.37 points at the first support level, and at 73.87 for the second support level. However, for the 1st resistance point, the stock is sitting at 75.52, and for the 2nd resistance point, it is at 76.17.
Ratios To Look Out For
For context, Okta Inc’s Current Ratio is 1.76. In addition, the Quick Ratio stands at 1.76 and the Cash Ratio stands at 0.31. Considering the valuation of this stock, the price to sales ratio is 5.19, the price to book ratio is 2.07.
Transactions by insiders
Recent insider trading involved McKinnon Todd, Chief Executive Officer, that happened on Sep 20 ’24 when 0.2 million shares were sold. Chief Executive Officer, McKinnon Todd completed a deal on Sep 23 ’24 to sell 32516.0 shares. Meanwhile, Director Todd McKinnon bought 0.46 million shares on Sep 20 ’24.
