The stock of Okta Inc (NASDAQ: OKTA) has increased by 2.24 when compared to last closing price of 72.88. Despite this, the company has experienced a -4.74% fall in its stock price over the last five trading sessions. zacks.com reported 2024-11-18 that Gaining adoption of OKTA’s Identity Threat Protection solution boosts prospects amid a challenging macroeconomic environment and stretched valuation.
Is It Worth Investing in Okta Inc (NASDAQ: OKTA) Right Now?
Additionally, the 36-month beta value for OKTA is 0.99. There are mixed opinions on the stock, with 11 analysts rating it as a “buy,” 5 rating it as “overweight,” 23 rating it as “hold,” and 0 rating it as “sell.”
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The public float for OKTA is 160.27M and currently, short sellers hold a 1.89% ratio of that float. The average trading volume of OKTA on November 20, 2024 was 2.16M shares.
OKTA’s Market Performance
OKTA stock saw an increase of -4.74% in the past week, with a monthly gain of 0.63% and a quarterly increase of -23.92%. The volatility ratio for the week is 3.50%, and the volatility levels for the last 30 days are 2.45% for Okta Inc (OKTA). The simple moving average for the past 20 days is -0.12% for OKTA’s stock, with a -16.55% simple moving average for the past 200 days.
Analysts’ Opinion of OKTA
Deutsche Bank, on the other hand, stated in their research note that they expect to see OKTA reach a price target of $85, previously predicting the price at $115. The rating they have provided for OKTA stocks is “Hold” according to the report published on November 12th, 2024.
Needham gave a rating of “Buy” to OKTA, setting the target price at $100 in the report published on October 17th of the current year.
OKTA Trading at -0.15% 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 -34.93% of loss for the given period.
Volatility was left at 2.45%, however, over the last 30 days, the volatility rate increased by 3.50%, as shares surge +0.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.94% upper at present.
During the last 5 trading sessions, OKTA fell by -4.74%, which changed the moving average for the period of 200-days by -9.29% in comparison to the 20-day moving average, which settled at $74.60. In addition, Okta Inc saw -17.70% 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 Schwartz Larissa, who sale 2,791 shares at the price of $71.50 back on Nov 04 ’24. After this action, Schwartz Larissa now owns 22,125 shares of Okta Inc, valued at $199,556 using the latest closing price.
LARISSA N SCHWARTZ, the Officer of Okta Inc, proposed sale 2,791 shares at $71.50 during a trade that took place back on Nov 04 ’24, which means that LARISSA N SCHWARTZ is holding shares at $199,556 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 0.15 points at debt to capital in total, while cash flow to debt ratio is standing at 0.57. The debt to equity ratio resting at 0.18. The interest coverage ratio of the stock is -43.33.
Currently, EBITDA for the company is -230.0 million with net debt to EBITDA at -18.08. When we switch over and look at the enterprise to sales, we see a ratio of 5.22. 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
In conclusion, Okta Inc (OKTA) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
