Brokerages Set Okta, Inc. (NASDAQ:OKTA) PT at $104.81 (2024)

Okta, Inc. (NASDAQ:OKTA - Get Free Report) has received an average rating of "Hold" from the thirty-one analysts that are presently covering the stock, Marketbeat.com reports. Nineteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $104.48.

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Several analysts have weighed in on OKTA shares. Susquehanna cut their price objective on Okta from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Thursday. Evercore ISI raised Okta from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $102.00 to $122.00 in a research report on Thursday. The Goldman Sachs Group lifted their price objective on Okta from $105.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $130.00 price objective on shares of Okta in a research report on Thursday. Finally, Piper Sandler lifted their price objective on Okta from $85.00 to $110.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th.

View Our Latest Analysis on Okta

Insiders Place Their Bets

In other Okta news, CAO Shibu Ninan sold 4,279 shares of Okta stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now owns 4,111 shares of the company's stock, valued at approximately $428,119.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Shibu Ninan sold 4,279 shares of the company's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the transaction, the chief accounting officer now owns 4,111 shares of the company's stock, valued at approximately $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the transaction, the director now directly owns 6,042 shares of the company's stock, valued at approximately $646,252.32. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

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Institutional Trading of Okta

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Okta by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company's stock worth $1,658,073,000 after purchasing an additional 128,906 shares during the period. Sands Capital Management LLC raised its position in Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company's stock worth $756,687,000 after purchasing an additional 2,486,456 shares during the period. First Trust Advisors LP raised its position in Okta by 28.1% in the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company's stock worth $369,854,000 after purchasing an additional 897,216 shares during the period. Cerity Partners LLC raised its position in Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company's stock worth $287,181,000 after purchasing an additional 3,121,809 shares during the period. Finally, Eminence Capital LP raised its position in Okta by 19.4% in the 4th quarter. Eminence Capital LP now owns 1,910,621 shares of the company's stock worth $172,969,000 after purchasing an additional 310,918 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Trading Down 0.2 %

Shares of NASDAQ OKTA traded down $0.18 during trading hours on Monday, hitting $88.50. The company's stock had a trading volume of 2,332,934 shares, compared to its average volume of 1,934,431. The business has a 50-day simple moving average of $97.64 and a 200-day simple moving average of $90.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market cap of $14.81 billion, a price-to-earnings ratio of -52.99 and a beta of 1.03. Okta has a 12 month low of $65.04 and a 12 month high of $114.50.

Okta Company Profile

(Get Free Report

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

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