The stock of Okta Inc. (NASDAQ: OKTA) has decreased by -1.36 when compared to last closing price of 84.31. Despite this, the company has experienced a -7.68% fall in its stock price over the last five trading sessions. InvestorPlace reported 2023-09-18 that In the rapidly evolving world of tech stocks, it’s easy to get overwhelmed by the sheer amount of choices available to the discerning investor. But if you’re seeking moneymaking returns and have an appetite for potential disruptors, let’s embark on a journey across three prominent names in the tech world.
Is It Worth Investing in Okta Inc. (NASDAQ: OKTA) Right Now?
and a 36-month beta value of 0.99. Opinions on the stock are mixed, with 23 analysts rating it as a “buy,” 3 as “overweight,” 15 as “hold,” and 1 as “sell.”
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The average price predicted for Okta Inc. (OKTA) by analysts is $94.86, which is $11.95 above the current market price. The public float for OKTA is 148.69M, and at present, short sellers hold a 3.63% of that float. On September 19, 2023, the average trading volume of OKTA was 2.36M shares.
OKTA’s Market Performance
The stock of Okta Inc. (OKTA) has seen a -7.68% decrease in the past week, with a 17.61% rise in the past month, and a 9.78% gain in the past quarter. The volatility ratio for the week is 3.07%, and the volatility levels for the past 30 days are at 3.43% for OKTA. The simple moving average for the last 20 days is 3.59% for OKTA stock, with a simple moving average of 11.71% for the last 200 days.
Analysts’ Opinion of OKTA
Many brokerage firms have already submitted their reports for OKTA stocks, with Evercore ISI repeating the rating for OKTA by listing it as a “In-line.” The predicted price for OKTA in the upcoming period, according to Evercore ISI is $75 based on the research report published on August 31, 2023 of the current year 2023.
OKTA Trading at 10.74% 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 -9.11% of loss for the given period.
Volatility was left at 3.43%, however, over the last 30 days, the volatility rate increased by 3.07%, as shares surge +15.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +21.35% upper at present.
During the last 5 trading sessions, OKTA fell by -7.68%, which changed the moving average for the period of 200-days by +62.26% in comparison to the 20-day moving average, which settled at $80.85. In addition, Okta Inc. saw 21.70% 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 McKinnon Todd, who sale 6,897 shares at the price of $75.60 back on Jun 16. After this action, McKinnon Todd now owns 28,111 shares of Okta Inc., valued at $521,410 using the latest closing price.
Tighe Brett, the Chief Financial Officer of Okta Inc., sale 4,380 shares at $75.60 during a trade that took place back on Jun 16, which means that Tighe Brett is holding 48,516 shares at $331,126 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. The total capital return value is set at -9.83, while invested capital returns managed to touch -10.38. Equity return is now at value -10.70, with -6.60 for asset returns.
Based on Okta Inc. (OKTA), the company’s capital structure generated 43.30 points at debt to equity in total, while total debt to capital is 30.22. Total debt to assets is 25.43, with long-term debt to equity ratio resting at 42.72. Finally, the long-term debt to capital ratio is 29.81.
When we switch over and look at the enterprise to sales, we see a ratio of 6.59, with the company’s debt to enterprise value settled at 0.21. The receivables turnover for the company is 4.15 and the total asset turnover is 0.20. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.14.
Conclusion
To sum up, Okta Inc. (OKTA) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
