Okta Inc. [NASDAQ: OKTA] stock went on an upward path that rose over 3.37% on Thursday, amounting to a one-week price increase of more than 9.22%. The company report on October 13, 2021 that Okta Unveils Updated Availability for Okta Workflows as New Standalone Offering with Expanded Capabilities.
Customers now have greater ability to automate identity processes and accelerate innovation.
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Okta, Inc. (NASDAQ:Okta), the leading independent identity provider, announced the availability of Okta Workflows as a standalone offering for all customers. Okta Workflows now addresses a broadened set of identity automation use cases beyond Lifecycle Management capabilities, including advanced security orchestration and DevOps. New pre-built Connectors and pre-configured Templates, in addition to a new no cost option for up to five flows, enables customers to realize the benefits of Okta Workflows more quickly across Workforce and Customer Identity use cases. With Okta Workflows serving as the extensibility toolkit for coders and non-coders alike, anyone can build and innovate with Okta.
Over the last 12 months, OKTA stock rose by 5.11%. The one-year Okta Inc. stock forecast points to a potential upside of 13.32. The average equity rating for OKTA stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $40.46 billion, with 151.36 million shares outstanding and 146.41 million shares in the current float. Compared to the average trading volume of 1.44M shares, OKTA stock reached a trading volume of 2515763 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $294.81 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 2.00. 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.
Morgan Stanley have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 28, 2021. The new note on the price target was released on September 02, 2021, representing the official price target for Okta Inc. stock. On September 02, 2021, analysts increased their price target for OKTA shares from 260 to 270.
The Average True Range (ATR) for Okta Inc. is set at 8.58, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 39.72. The Price to Book ratio for the last quarter was 6.40, with the Price to Cash per share for the same quarter was set at 15.59. Price to Free Cash Flow for OKTA in the course of the last twelve months was 322.61 with Quick ratio for the last quarter at 3.20.
OKTA Stock Performance Analysis:
Okta Inc. [OKTA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.22. With this latest performance, OKTA shares gained by 0.77% in over the last four-week period, additionally sinking by -5.35% over the last 6 months – not to mention a rise of 5.11% 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 59.36, with the RSI for the last a single of trading hit 65.86, and the three-weeks RSI is set at 56.17 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 246.34, while it was recorded at 238.46 for the last single week of trading, and 246.45 for the last 200 days.
Insight into Okta Inc. 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 3.20 and a Current Ratio set at 3.20.
OKTA Stock EPS
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%.
Okta Inc. [OKTA] Insider Position Details
There are presently around $28,783 million, or 77.60% 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 $2.87 billion in OKTA stocks shares; and MORGAN STANLEY, currently with $2.66 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 389 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 18,891,927 shares. Additionally, 272 investors decreased positions by around 7,931,369 shares, while 118 investors held positions by with 85,817,284 shares. The mentioned changes placed institutional holdings at 112,640,580 shares, according to the latest SEC report filing. OKTA stock had 119 new institutional investments in for a total of 8,233,405 shares, while 84 institutional investors sold positions of 1,356,940 shares during the same period.