Shares of Okta Inc (NASDAQ:OKTA) have received a consensus recommendation of “Buy” from the fifteen research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $42.30.
Several research firms recently issued reports on OKTA. Needham & Company LLC assumed coverage on shares of Okta in a research report on Wednesday, February 14th. They issued a “buy” rating and a $38.00 price target for the company. BidaskClub lowered shares of Okta from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. Canaccord Genuity raised their price objective on shares of Okta from $28.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, March 8th. Citigroup reaffirmed a “buy” rating and set a $46.00 price objective on shares of Okta in a report on Thursday, March 8th. Finally, KeyCorp reaffirmed a “positive” rating and set a $43.00 price objective (up previously from $35.00) on shares of Okta in a report on Thursday, February 22nd.
In other news, CEO Todd Mckinnon sold 75,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $26.11, for a total transaction of $1,958,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Jonathan T. Runyan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $38.93, for a total transaction of $97,325.00. Following the sale, the general counsel now directly owns 2,500 shares in the company, valued at $97,325. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 323,775 shares of company stock valued at $10,032,887.
Okta (NASDAQ OKTA) traded up $0.15 during trading hours on Monday, reaching $39.85. 425,221 shares of the company traded hands, compared to its average volume of 1,817,730. Okta has a 52-week low of $21.52 and a 52-week high of $42.88.
Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, March 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.05. Okta had a negative net margin of 43.99% and a negative return on equity of 65.56%. The firm had revenue of $77.80 million during the quarter, compared to analyst estimates of $76.77 million. The company’s revenue for the quarter was up 59.4% compared to the same quarter last year. analysts expect that Okta will post -1.3 EPS for the current fiscal year.
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Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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