Thursday, October 22, 2020

Okta Inc. [OKTA] Revenue clocked in at $703.70 million, up 83.64% YTD: What’s Next?

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Okta Inc. [NASDAQ: OKTA] jumped around 5.39 points on Tuesday, while shares priced at $211.86 at the close of the session, up 2.61%.

Okta Inc. stock is now 83.64% up from its year-to-date (YTD) trading value. OKTA Stock saw the intraday high of $212.16 and lowest of $202.67 per share. The company’s 52-week high price is 231.29, which means current price is +138.96% above from all time high which was touched on 09/02/20.

Compared to the average trading volume of 1.70M shares, OKTA reached a trading volume of 1331658 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Okta Inc. [OKTA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OKTA shares is $222.74 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OKTA stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 06, 2020. The new note on the price target was released on June 30, 2020, representing the official price target for Okta Inc. stock. On May 29, 2020, analysts decreased their price target for OKTA shares from 210 to 205.

The Average True Range (ATR) for Okta Inc. is set at 9.25, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 38.03. The Price to Book ratio for the last quarter was 39.09, with the Price to Cash per share for the same quarter was set at 19.91. Price to Free Cash Flow for OKTA in the course of the last twelve months was 388.39 with Quick ratio for the last quarter at 5.10.

How has OKTA stock performed recently?

Okta Inc. [OKTA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.53. With this latest performance, OKTA shares gained by 1.67% in over the last four-week period, additionally plugging by 70.90% over the last 6 months – not to mention a rise of 101.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OKTA stock in for the last two-week period is set at 56.07, with the RSI for the last a single of trading hit 61.48, and the three-weeks RSI is set at 53.93 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 207.56, while it was recorded at 200.81 for the last single week of trading, and 162.70 for the last 200 days.

Okta Inc. [OKTA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Okta Inc. [OKTA] shares currently have an operating margin of -31.12 and a Gross Margin at +72.80. Okta Inc.’s Net Margin is presently recorded at -35.65.

Return on Total Capital for OKTA is now -17.94, given the latest momentum, and Return on Invested Capital for the company is -25.33. Return on Equity for this stock declined to -63.53, with Return on Assets sitting at -14.82. When it comes to the capital structure of this company, Okta Inc. [OKTA] has a Total Debt to Total Equity ratio set at 272.43. Additionally, OKTA Total Debt to Total Capital is recorded at 73.15, with Total Debt to Total Assets ending up at 56.47. Long-Term Debt to Equity for the company is recorded at 244.61, with the Long-Term Debt to Total Capital now at 65.68.

Reflecting on the efficiency of the workforce at the company, Okta Inc. [OKTA] managed to generate an average of -$92,933 per employee. Receivables Turnover for the company is 5.22 with a Total Asset Turnover recorded at a value of 0.42.Okta Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.10 and a Current Ratio set at 5.10.

Earnings analysis for Okta Inc. [OKTA]

With the latest financial reports released by the company, Okta Inc. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 41.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OKTA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Okta Inc. go to 25.00%.

Insider trade positions for Okta Inc. [OKTA]

There are presently around $20,330 million, or 81.70% of OKTA stock, in the hands of institutional investors. The top three institutional holders of OKTA stocks are: MORGAN STANLEY with ownership of 11,759,040, which is approximately 6.788% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 11,072,369 shares of the stock with an approximate value of $2.35 billion in OKTA stocks shares; and FMR LLC, currently with $2.02 billion in OKTA stock with ownership of nearly -2.33% of the company’s market capitalization.

Positions in Okta Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 395 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 9,212,961 shares. Additionally, 205 investors decreased positions by around 7,421,396 shares, while 67 investors held positions by with 79,327,540 shares. The mentioned changes placed institutional holdings at 95,961,897 shares, according to the latest SEC report filing. OKTA stock had 164 new institutional investments in for a total of 1,026,584 shares, while 64 institutional investors sold positions of 1,352,703 shares during the same period.

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