Evaluating the Ups and Downs of Okta Inc’s (OKTA) Stock

The stock of Okta Inc (OKTA) has gone down by -2.17% for the week, with a -6.50% drop in the past month and a 17.43% rise in the past quarter. The volatility ratio for the week is 1.94%, and the volatility levels for the past 30 days are 2.63% for OKTA. The simple moving average for the past 20 days is -4.10% for OKTA’s stock, with a 26.13% simple moving average for the past 200 days.

Is It Worth Investing in Okta Inc (NASDAQ: OKTA) Right Now?

OKTA has 36-month beta value of 0.96. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 2 as “overweight,” 4 as “hold,” and 0 as “sell.”

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The public float for OKTA is 157.24M, and currently, short sellers hold a 1.90% ratio of that float. The average trading volume of OKTA on April 04, 2024 was 2.16M shares.

OKTA) stock’s latest price update

Okta Inc (NASDAQ: OKTA)’s stock price has decreased by -0.47 compared to its previous closing price of 102.64. However, the company has seen a -2.17% decrease in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-01 that Cybersecurity continues to be one of the hottest sectors. It represents an increasing need in the emerging age of AI that grows at a nearly exponential rate.

Analysts’ Opinion of OKTA

Many brokerage firms have already submitted their reports for OKTA stocks, with BofA Securities repeating the rating for OKTA by listing it as a “Buy.” The predicted price for OKTA in the upcoming period, according to BofA Securities is $135 based on the research report published on February 29, 2024 of the current year 2024.

Mizuho, on the other hand, stated in their research note that they expect to see OKTA reach a price target of $85. The rating they have provided for OKTA stocks is “Neutral” according to the report published on January 08th, 2024.

Jefferies gave a rating of “Hold” to OKTA, setting the target price at $95 in the report published on January 05th of the current year.

OKTA Trading at 7.54% 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 -10.78% of loss for the given period.

Volatility was left at 2.63%, however, over the last 30 days, the volatility rate increased by 1.94%, as shares sank -4.51% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.83% upper at present.

During the last 5 trading sessions, OKTA fell by -2.17%, which changed the moving average for the period of 200-days by +34.10% in comparison to the 20-day moving average, which settled at $106.29. In addition, Okta Inc saw 12.85% 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 Ninan Shibu, who sale 4,279 shares at the price of $104.14 back on Mar 19 ’24. After this action, Ninan Shibu now owns 4,111 shares of Okta Inc, valued at $445,615 using the latest closing price.

ARCHAMBEAU SHELLYE L, the Director of Okta Inc, sale 5,000 shares at $106.96 during a trade that took place back on Mar 14 ’24, which means that ARCHAMBEAU SHELLYE L is holding 6,042 shares at $534,812 based on the most recent closing price.

Stock Fundamentals for OKTA

Current profitability levels for the company are sitting at:

  • -0.23 for the present operating margin
  • 0.74 for the gross margin

The net margin for Okta Inc stands at -0.16. The total capital return value is set at -0.07. Equity return is now at value -6.25, with -3.88 for asset returns.

Based on Okta Inc (OKTA), the company’s capital structure generated 0.17 points at debt to capital in total, while cash flow to debt ratio is standing at 0.43. The debt to equity ratio resting at 0.2. The interest coverage ratio of the stock is -64.5.

Currently, EBITDA for the company is -295.0 million with net debt to EBITDA at -3.26. When we switch over and look at the enterprise to sales, we see a ratio of 7.65. The receivables turnover for the company is 3.91for trailing twelve months and the total asset turnover is 0.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.61.

Conclusion

To put it simply, Okta Inc (OKTA) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.

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