Okta Inc. [NASDAQ: OKTA] jumped around 2.96 points on Friday, while shares priced at $219.51 at the close of the session, up 1.37%. The company report on October 7, 2020 that Okta Announces New Okta Partner Connect Specializations For Hybrid IT and Customer Identity, Highlights Global Partner Expansion.
New specializations help partners become trusted advisors across every market as global channel ecosystem grows by over 400 percent .
Okta, Inc. (NASDAQ:OKTA), the leading independent provider of identity for the enterprise, today at Okta Showcase, announced Customer Identity and Okta Access Gateway Specializations within Okta Partner Connect. The two new areas of focus coincide with considerable global partner momentum for the company, which has seen an over 400 percent increase in the global channel partner ecosystem in the last two years.
Okta Inc. stock is now 90.27% up from its year-to-date (YTD) trading value. OKTA Stock saw the intraday high of $219.83 and lowest of $214.6906 per share. The company’s 52-week high price is 251.18, which means current price is +147.59% above from all time high which was touched on 10/14/20.
Compared to the average trading volume of 1.41M shares, OKTA reached a trading volume of 1969192 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 $232.78 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 8.76, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 39.42. The Price to Book ratio for the last quarter was 40.50, with the Price to Cash per share for the same quarter was set at 19.90. Price to Free Cash Flow for OKTA in the course of the last twelve months was 402.57 with Quick ratio for the last quarter at 5.10.
How has OKTA stock performed recently?
Okta Inc. [OKTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.02. With this latest performance, OKTA shares gained by 7.32% in over the last four-week period, additionally plugging by 44.47% over the last 6 months – not to mention a rise of 103.25% 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 43.32, with the RSI for the last a single of trading hit 37.86, and the three-weeks RSI is set at 48.65 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 215.86, while it was recorded at 226.13 for the last single week of trading, and 175.23 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 $21,091 million, or 81.60% 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 $2.43 billion in OKTA stocks shares; and FMR LLC, currently with $2.09 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 390 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 9,248,830 shares. Additionally, 204 investors decreased positions by around 7,363,608 shares, while 73 investors held positions by with 79,471,126 shares. The mentioned changes placed institutional holdings at 96,083,564 shares, according to the latest SEC report filing. OKTA stock had 153 new institutional investments in for a total of 984,331 shares, while 65 institutional investors sold positions of 1,302,833 shares during the same period.