Okta Inc (OKTA) Stock: A Look at the Analyst Recommendations

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OKTA has 36-month beta value of 1.02. 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.”

The public float for OKTA is 159.69M, and currently, short sellers hold a 2.58% ratio of that float. The average trading volume of OKTA on October 02, 2024 was 2.03M shares.

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OKTA) stock’s latest price update

The stock of Okta Inc (NASDAQ: OKTA) has decreased by -2.37 when compared to last closing price of 74.34. Despite this, the company has experienced a -4.29% fall in its stock price over the last five trading sessions. zacks.com reported 2024-10-01 that Five momentum stocks for October are: FTNT, GOLD, OKTA, PGR, NCLH.

OKTA’s Market Performance

Okta Inc (OKTA) has experienced a -4.29% fall in stock performance for the past week, with a -7.81% drop in the past month, and a -22.47% drop in the past quarter. The volatility ratio for the week is 2.12%, and the volatility levels for the past 30 days are at 2.41% for OKTA. The simple moving average for the past 20 days is -2.18% for OKTA’s stock, with a -20.35% simple moving average for the past 200 days.

Analysts’ Opinion of OKTA

Many brokerage firms have already submitted their reports for OKTA stocks, with BMO Capital Markets repeating the rating for OKTA by listing it as a “Market Perform.” The predicted price for OKTA in the upcoming period, according to BMO Capital Markets is $103 based on the research report published on August 29, 2024 of the current year 2024.

BofA Securities, on the other hand, stated in their research note that they expect to see OKTA reach a price target of $75, previously predicting the price at $135. The rating they have provided for OKTA stocks is “Underperform” according to the report published on August 29th, 2024.

Evercore ISI gave a rating of “Outperform” to OKTA, setting the target price at $122 in the report published on May 30th of the current year.

OKTA Trading at -14.73% 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 -36.61% of loss for the given period.

Volatility was left at 2.41%, however, over the last 30 days, the volatility rate increased by 2.12%, as shares sank -4.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -23.62% lower at present.

During the last 5 trading sessions, OKTA fell by -4.29%, which changed the moving average for the period of 200-days by -7.71% in comparison to the 20-day moving average, which settled at $74.03. In addition, Okta Inc saw -19.83% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at OKTA starting from McKinnon Todd, who sale 200,512 shares at the price of $75.21 back on Sep 20 ’24. After this action, McKinnon Todd now owns 8,495 shares of Okta Inc, valued at $15,080,307 using the latest closing price.

McKinnon Todd, the Chief Executive Officer of Okta Inc, sale 32,516 shares at $76.22 during a trade that took place back on Sep 23 ’24, which means that McKinnon Todd is holding 0 shares at $2,478,435 based on the most recent closing price.

Stock Fundamentals for OKTA

Current profitability levels for the company are sitting at:

  • -0.11 for the present operating margin
  • 0.76 for the gross margin

The net margin for Okta Inc stands at -0.06. The total capital return value is set at -0.04. Equity return is now at value -2.31, with -1.53 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 0.52. The debt to equity ratio resting at 0.2. The interest coverage ratio of the stock is -43.33.

Currently, EBITDA for the company is -295.0 million with net debt to EBITDA at -7.12. When we switch over and look at the enterprise to sales, we see a ratio of 5.1. The receivables turnover for the company is 6.5for trailing twelve months and the total asset turnover is 0.27. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.76.

Conclusion

To put it simply, Okta Inc (OKTA) has had a bad 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’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.

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