Okta Inc. [OKTA] is -75.18% lower this YTD. Is it still time to buy?

Okta Inc. [NASDAQ: OKTA] surged by $1.58 during the normal trading session on Wednesday and reaching a high of $56.24 during the day while it closed the day at $55.65. The company report on September 15, 2022 that Recorded Future Intelligence Cloud Adds Okta Integration.


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Automated Intelligence Identifies and Remediates Identity Compromises Before They’re Weaponized.

Recorded Future, one of the world’s largest providers of intelligence, today announced new capabilities to the Recorded Future Intelligence Cloud through an integration with Okta (NASDAQ: OKTA). The integration with Okta Integration Network (OIN) deepens the breadth of coverage provided by Recorded Future’s Identity Intelligence solution, providing automated visibility into compromised identities, real-time evidence of exposed credentials, and immediate prioritization of identity threats and downstream response workflows.

Okta Inc. stock has also loss -2.32% of its value over the past 7 days. However, OKTA stock has declined by -40.39% in the 3 months of the year. Over the past six months meanwhile, it has lost -64.51% and lost -75.18% year-on date.

The market cap for OKTA stock reached $9.02 billion, with 157.40 million shares outstanding and 150.82 million shares in the current float. Compared to the average trading volume of 3.85M shares, OKTA reached a trading volume of 3530123 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $100.35 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.

Cleveland Research have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 23, 2022. While these analysts kept the previous recommendation, MoffettNathanson raised their target price to Sell. The new note on the price target was released on September 22, 2022, representing the official price target for Okta Inc. stock. Previously, the target price had yet another raise to $90, while Jefferies analysts kept a Buy rating on OKTA stock. On September 02, 2022, analysts decreased their price target for OKTA shares from 89 to 65.

The Average True Range (ATR) for Okta Inc. is set at 4.01, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 5.63. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 15.29. Price to Free Cash Flow for OKTA in the course of the last twelve months was 260.62 with Quick ratio for the last quarter at 2.40.

OKTA stock trade performance evaluation

Okta Inc. [OKTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.32. With this latest performance, OKTA shares dropped by -38.03% in over the last four-week period, additionally sinking by -64.51% over the last 6 months – not to mention a drop of -76.39% 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 30.22, with the RSI for the last a single of trading hit 31.11, and the three-weeks RSI is set at 32.18 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 84.27, while it was recorded at 54.40 for the last single week of trading, and 131.62 for the last 200 days.

Okta Inc. [OKTA]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Okta Inc. [OKTA] shares currently have an operating margin of -54.64 and a Gross Margin at +69.51. Okta Inc.’s Net Margin is presently recorded at -65.25.

Return on Equity for this stock declined to -25.65, with Return on Assets sitting at -13.57.

Okta Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.

Earnings per share (EPS) analysis for Okta Inc. [OKTA] stock

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%.

Okta Inc. [OKTA]: Insider Ownership positions

There are presently around $8,257 million, or 81.90% of OKTA stock, in the hands of institutional investors. The top three institutional holders of OKTA stocks are: GOLDMAN SACHS GROUP INC with ownership of 26,558,580, which is approximately 2189.028% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 13,841,459 shares of the stock with an approximate value of $770.28 million in OKTA stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $714.2 million in OKTA stock with ownership of nearly -7.276% of the company’s market capitalization.

318 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 42,200,407 shares. Additionally, 350 investors decreased positions by around 18,320,265 shares, while 86 investors held positions by with 87,846,958 shares. The mentioned changes placed institutional holdings at 148,367,630 shares, according to the latest SEC report filing. OKTA stock had 73 new institutional investments in for a total of 2,212,835 shares, while 145 institutional investors sold positions of 4,147,715 shares during the same period.

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