Okta Inc. [OKTA] moved down -2.42: Why It’s Important

Okta Inc. [NASDAQ: OKTA] price plunged by -2.42 percent to reach at -$1.26. 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.

A sum of 4750917 shares traded at recent session while its average daily volume was at 4.01M shares. Okta Inc. shares reached a high of $52.49 and dropped to a low of $49.90 until finishing in the latest session at $50.76.

The one-year OKTA stock forecast points to a potential upside of 47.85. The average equity rating for OKTA stock is currently 2.30, trading closer to a bullish pattern in the stock market.

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 $97.33 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.

Evercore ISI have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 06, 2022. The new note on the price target was released on September 23, 2022, representing the official price target for Okta Inc. stock. Previously, the target price had yet another raise to $71, while MoffettNathanson analysts kept a Sell rating on OKTA stock.

The Average True Range (ATR) for Okta Inc. is set at 3.18, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 5.44. The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 14.44. Price to Free Cash Flow for OKTA in the course of the last twelve months was 251.69 with Quick ratio for the last quarter at 2.40.

OKTA Stock Performance Analysis:

Okta Inc. [OKTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.07. With this latest performance, OKTA shares dropped by -21.67% in over the last four-week period, additionally sinking by -64.98% over the last 6 months – not to mention a drop of -77.53% 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 28.19, with the RSI for the last a single of trading hit 25.36, and the three-weeks RSI is set at 30.82 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 76.55, while it was recorded at 54.80 for the last single week of trading, and 124.17 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 -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.

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 25.00%.

Okta Inc. [OKTA] Insider Position Details

There are presently around $7,403 million, or 82.00% 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 $702.59 million in OKTA stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $651.44 million in OKTA stock with ownership of nearly -7.276% of the company’s market capitalization.

313 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 42,216,139 shares. Additionally, 341 investors decreased positions by around 17,268,350 shares, while 85 investors held positions by with 86,359,117 shares. The mentioned changes placed institutional holdings at 145,843,606 shares, according to the latest SEC report filing. OKTA stock had 72 new institutional investments in for a total of 2,210,647 shares, while 143 institutional investors sold positions of 4,147,127 shares during the same period.

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