Jefferies Financial Group cuts its price target on Okta (NASDAQ:OKTA) to $85.00

Okta (NASDAQ:OKTA – Get a Free Report) The price target was dropped by equities researchers at Jefferies Financial Group from $100.00 to $85.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 11.46% from the company’s current price.

Other equities research analysts have recently issued research reports on the company. Stifel Nicolaus cut their price objective on Okta from $122.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Citigroup decreased their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Scotiabank reduced their price objective on Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a report on Thursday, August 29th. BMO Capital Markets boosted their price objective on shares of Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Okta in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $104.62, according to MarketBeat.com.

Get the latest stock analysis on OKTA

Okta stock performance

OKTA traded up $0.08 during trading on Tuesday, reaching $76.26. The company’s stock had a trading volume of 360,518 shares, compared to its average volume of 1,940,212. The company has a market cap of $12.83 billion, a price-to-earnings ratio of -45.57, a price-to-earnings-growth ratio of 41.00 and a beta of 1.01. The company’s fifty day moving average price is $86.92 and its 200 day moving average price is $93.25. Okta has a 52-week low of $65.04 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83, and a current ratio of 1.83.

Okta (NASDAQ:OKTA – Get Your Free Report ) last posted its earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The company had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. On average, equities analysts predict that Okta will post 0.08 earnings per share for the current fiscal year.

Insider buying and selling at Okta

In related news, Director Jacques Frederic Kerrest sold 3,280 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $95.64, for a total value of $313,699.20. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. In other news, Director Jacques Frederic Kerrest sold 3,280 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $95.64, for a total transaction of $313,699.20. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, insider Larissa Schwartz sold 2,792 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the transaction, the insider now owns 29,809 shares of the company’s stock, valued at approximately $2,963,014.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 347,411 shares of company stock worth $32,837,280. 7.00% of shares are held by insiders.

Institutional inputs and outputs

Several large investors have recently bought and sold shares of OKTA. City State Bank boosted its holdings in shares of Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares during the period. EverSource Wealth Advisors LLC grew its stake in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after buying an additional 142 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Okta in the second quarter valued at approximately $47,000. nVerses Capital LLC bought a new position in Okta in the second quarter valued at about $47,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Okta in the 1st quarter valued at about $63,000. 86.64% of shares are owned by institutional investors and hedge funds.

Okta Company Profile

(Get a free report)

Okta, Inc operates as an identity partner in the United States and internationally. The company offers the Okta suite of products and services used to manage and secure identities, such as Single Sign-On, which allows users to access cloud or on-premises applications from various devices; Adaptive multi-factor authentication provides a layer of security for cloud, mobile, web apps and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend the Workforce Identity Cloud; and Okta Device Access allows end users to securely connect to devices with Okta credentials.

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