Okta Inc. (NASDAQ: OKTA)’s stock price has increased by 1.71 compared to its previous closing price of 81.81. Despite this, the company has seen a fall of -3.20% in its stock price over the last five trading days. Barron’s reported on 03/10/23 that Okta Stock Has Been on a Tear. Why There’s Still Time to Buy.
Is It Worth Investing in Okta Inc. (NASDAQ: OKTA) Right Now?
while the 36-month beta value is 1.10.Analysts have differing opinions on the stock, with 23 analysts rating it as a “buy,” 2 as “overweight,” 11 as “hold,” and 3 as “sell.”
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The average price point forecasted by analysts for Okta Inc. (OKTA) is $91.63, which is $9.16 above the current market price. The public float for OKTA is 151.76M, and currently, short sellers hold a 3.82% ratio of that floaft. The average trading volume of OKTA on March 16, 2023 was 2.79M shares.
OKTA’s Market Performance
OKTA’s stock has seen a -3.20% decrease for the week, with a 10.12% rise in the past month and a 21.49% gain in the past quarter. The volatility ratio for the week is 4.50%, and the volatility levels for the past 30 days are at 4.17% for Okta Inc. The simple moving average for the last 20 days is 6.80% for OKTA stock, with a simple moving average of 11.75% for the last 200 days.
Analysts’ Opinion of OKTA
Many brokerage firms have already submitted their reports for OKTA stocks, with TD Cowen repeating the rating for OKTA by listing it as a “Outperform.” The predicted price for OKTA in the upcoming period, according to TD Cowen is $100 based on the research report published on March 02nd of the current year 2023.
Goldman, on the other hand, stated in their research note that they expect to see OKTA reach a price target of $70. The rating they have provided for OKTA stocks is “Sell” according to the report published on February 14th, 2023.
BofA Securities gave a rating of “Underperform” to OKTA, setting the target price at $64 in the report published on February 13th of the current year.
OKTA Trading at 12.48% from the 50-Day Moving Average
After a stumble in the market that brought OKTA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.77% of loss for the given period.
Volatility was left at 4.17%, however, over the last 30 days, the volatility rate increased by 4.50%, as shares surge +7.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +21.78% upper at present.
During the last 5 trading sessions, OKTA fell by -3.20%, which changed the moving average for the period of 200-days by +2.46% in comparison to the 20-day moving average, which settled at $78.21. In addition, Okta Inc. saw 21.78% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OKTA starting from Runyan Jonathan T, who sale 10 shares at the price of $69.77 back on Jan 17. After this action, Runyan Jonathan T now owns 72,210 shares of Okta Inc., valued at $698 using the latest closing price.
McKinnon Todd, the Chief Executive Officer of Okta Inc., sale 3,771 shares at $67.41 during a trade that took place back on Dec 16, which means that McKinnon Todd is holding 18,662 shares at $254,214 based on the most recent closing price.
Stock Fundamentals for OKTA
Current profitability levels for the company are sitting at:
- -41.77 for the present operating margin
- +70.61 for the gross margin
The net margin for Okta Inc. stands at -43.86. Equity return is now at value -15.00, with -8.90 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 2.14.
Conclusion
In a nutshell, Okta Inc. (OKTA) has experienced a mixed performance in recent times. The stock has received mixed “sell” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
