Okta, Inc. (NASDAQ:OKTA) – Equities researchers at Truist Securiti lowered their FY2023 EPS estimates for shares of Okta in a report issued on Thursday, April 8th. Truist Securiti analyst J. Fishbein now expects that the company will earn ($1.69) per share for the year, down from their prior estimate of ($1.66).
Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity raised shares of Okta from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Wednesday, March 10th. Robert W. Baird reduced their target price on shares of Okta from $275.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, March 10th. Needham & Company LLC reissued a “hold” rating on shares of Okta in a research report on Thursday. Piper Sandler reduced their target price on shares of Okta from $250.00 to $235.00 and set a “neutral” rating for the company in a research report on Wednesday, March 10th. Finally, TheStreet downgraded Okta from a “c-” rating to a “d+” rating in a research note on Friday, March 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $262.25.
Shares of Okta stock opened at $244.26 on Monday. The firm has a 50-day moving average of $235.21 and a 200-day moving average of $242.98. The stock has a market cap of $32.05 billion, a PE ratio of -126.56 and a beta of 0.99. Okta has a 52-week low of $130.38 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 2.51, a quick ratio of 4.80 and a current ratio of 4.80. Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, March 2nd. The company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.07. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The firm had revenue of $234.74 million during the quarter, compared to analysts’ expectations of $221.99 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the company. Black Swift Group LLC bought a new stake in shares of Okta during the fourth quarter worth about $25,000. Addison Advisors LLC bought a new stake in shares of Okta during the fourth quarter worth about $25,000. tru Independence LLC bought a new stake in shares of Okta during the fourth quarter worth about $25,427,000. International Assets Investment Management LLC bought a new stake in shares of Okta during the fourth quarter worth about $28,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of Okta during the fourth quarter worth about $29,000. Institutional investors own 75.77% of the company’s stock.
In other Okta news, CFO Michael R. Kourey sold 20,000 shares of the business’s stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $221.86, for a total transaction of $4,437,200.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $4,437,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher K. Kramer sold 4,874 shares of the business’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $225.65, for a total value of $1,099,818.10. In the last three months, insiders have sold 94,208 shares of company stock valued at $22,904,580. Insiders own 12.02% of the company’s stock.
Okta Company Profile
Okta, Inc provides identity management platform for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; and Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials.