Okta Inc. [OKTA] fell -6.21% so far this year. What now?

Okta Inc. [NASDAQ: OKTA] traded at a high on 04/08/21, posting a 7.15 gain after which it closed the day’ session at $238.48. The company report on April 7, 2021 that Okta Introduces New Okta Privileged Access Product to Strengthen Security and Agility of Critical Computing Resources.

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New product unites privileged access management with enterprise identity to eliminate disparate systems and improve Zero Trust security posture for organizations.

Okta, Inc. (NASDAQ:OKTA), the leading independent provider of identity, at Oktane21, announced Okta Privileged Access, a new product that unifies identity management with flexible, least privilege access controls for critical infrastructure to increase development speed, operational agility, and improve Zero Trust security at the deepest levels of enterprise technology environments. With Okta Privileged Access, the complex management of highly sensitive access to secure hybrid and multi-cloud infrastructure resources is made simple and accessible. Watch all of Okta’s product announcements at Oktane21.com.

The results of the trading session contributed to over 4072812 shares changing hands. Over the past one week, the price volatility of Okta Inc. stands at 3.95% while the volatility over the past one month is 4.36%.

The market cap for OKTA stock reached $30.03 billion, with 130.18 million shares outstanding and 119.78 million shares in the current float. Compared to the average trading volume of 1.64M shares, OKTA reached a trading volume of 4072812 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 $267.50 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 2.30. 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.

Canaccord Genuity have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 04, 2021. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on February 23, 2021, representing the official price target for Okta Inc. stock. Previously, the target price had yet another raise to $250, while Piper Sandler analysts kept a Neutral rating on OKTA stock.

The Average True Range (ATR) for Okta Inc. is set at 12.36, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 35.95. The Price to Book ratio for the last quarter was 44.74, with the Price to Cash per share for the same quarter was set at 20.30. Price to Free Cash Flow for OKTA in the course of the last twelve months was 261.35 with Quick ratio for the last quarter at 1.90.

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 8.19. With this latest performance, OKTA shares gained by 8.41% in over the last four-week period, additionally plugging by 2.58% over the last 6 months – not to mention a rise of 89.96% 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 54.83, with the RSI for the last a single of trading hit 61.58, and the three-weeks RSI is set at 51.43 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 247.66, while it was recorded at 229.22 for the last single week of trading, and 231.15 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 -24.44 and a Gross Margin at +69.20. Okta Inc.’s Net Margin is presently recorded at -31.88.

Return on Total Capital for OKTA is now -9.79, given the latest momentum, and Return on Invested Capital for the company is -17.03. Return on Equity for this stock declined to -48.45, with Return on Assets sitting at -10.14. When it comes to the capital structure of this company, Okta Inc. [OKTA] has a Total Debt to Total Equity ratio set at 283.70. Additionally, OKTA Total Debt to Total Capital is recorded at 73.94, with Total Debt to Total Assets ending up at 59.69. Long-Term Debt to Equity for the company is recorded at 149.40, with the Long-Term Debt to Total Capital now at 38.94.

Reflecting on the efficiency of the workforce at the company, Okta Inc. [OKTA] managed to generate an average of -$94,915 per employee. Receivables Turnover for the company is 4.97 with a Total Asset Turnover recorded at a value of 0.32.Okta Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.

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 -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 58.80%. 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 $23,495 million, or 82.20% of OKTA stock, in the hands of institutional investors. The top three institutional holders of OKTA stocks are: VANGUARD GROUP INC with ownership of 11,041,746, which is approximately 3.091% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 9,513,480 shares of the stock with an approximate value of $2.27 billion in OKTA stocks shares; and MORGAN STANLEY, currently with $2.21 billion in OKTA stock with ownership of nearly -27.715% of the company’s market capitalization.

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Positions in Okta Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 448 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 10,331,428 shares. Additionally, 209 investors decreased positions by around 11,203,910 shares, while 104 investors held positions by with 76,984,568 shares. The mentioned changes placed institutional holdings at 98,519,906 shares, according to the latest SEC report filing. OKTA stock had 160 new institutional investments in for a total of 1,977,909 shares, while 53 institutional investors sold positions of 1,894,251 shares during the same period.

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