Okta Inc. [NASDAQ: OKTA] gained 0.03% or 0.06 points to close at $230.97 with a heavy trading volume of 1481425 shares. The company report on August 2, 2021 that Okta Welcomes Sagnik Nandy as President of Technology and CTO.
Former Google Executive to Lead and Scale Okta’s Global Technology Organization.
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Okta, Inc. (NASDAQ:OKTA), the leading independent identity provider, welcomes Sagnik Nandy as President of Technology and CTO. Nandy will join Okta’s executive management team and report directly to Todd McKinnon, CEO and co-founder. As President and CTO, Nandy will lead Okta’s engineering and business technology functions and be responsible for the strategic planning of product development activities.
It opened the trading session at $230.92, the shares rose to $234.32 and dropped to $230.71, the range by which the price of stock traded the whole day. The daily chart for OKTA points out that the company has recorded -15.85% loss over the past six months. However, it is still -24.81% lower than its most recent low trading price.
If we look at the average trading volume of 1.69M shares, OKTA reached to a volume of 1481425 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $278.87 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 2.10. 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.
Wolfe Research have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 06, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on July 13, 2021, representing the official price target for Okta Inc. stock. Previously, the target price had yet another raise to $282, while Daiwa Securities analysts kept a Buy rating on OKTA stock.
The Average True Range (ATR) for Okta Inc. is set at 7.04, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 33.88. The Price to Book ratio for the last quarter was 44.59, with the Price to Cash per share for the same quarter was set at 20.29. Price to Free Cash Flow for OKTA in the course of the last twelve months was 223.63 with Quick ratio for the last quarter at 3.80.
Trading performance analysis for OKTA stock
Okta Inc. [OKTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.06. With this latest performance, OKTA shares dropped by -7.50% in over the last four-week period, additionally sinking by -15.85% over the last 6 months – not to mention a rise of 9.45% 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 40.30, with the RSI for the last a single of trading hit 36.65, and the three-weeks RSI is set at 43.22 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 241.39, while it was recorded at 230.65 for the last single week of trading, and 245.14 for the last 200 days.
Okta Inc. [OKTA]: A deeper dive into fundamental analysis
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 3.80 and a Current Ratio set at 3.80.
Okta Inc. [OKTA]: An earnings per share (EPS) analysis
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 -0.02%.
An analysis of insider ownership at Okta Inc. [OKTA]
There are presently around $25,989 million, or 91.20% of OKTA stock, in the hands of institutional investors. The top three institutional holders of OKTA stocks are: VANGUARD GROUP INC with ownership of 12,586,798, which is approximately 13.683% of the company’s market cap and around 0.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 11,239,019 shares of the stock with an approximate value of $2.6 billion in OKTA stocks shares; and MORGAN STANLEY, currently with $2.4 billion in OKTA stock with ownership of nearly -0.707% of the company’s market capitalization.
Positions in Okta Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 382 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 18,871,702 shares. Additionally, 283 investors decreased positions by around 7,925,599 shares, while 115 investors held positions by with 85,723,127 shares. The mentioned changes placed institutional holdings at 112,520,428 shares, according to the latest SEC report filing. OKTA stock had 114 new institutional investments in for a total of 8,227,573 shares, while 84 institutional investors sold positions of 1,369,811 shares during the same period.