Okta Inc. [NASDAQ: OKTA] plunged by -$0.78 during the normal trading session on Thursday and reaching a high of $51.0512 during the day while it closed the day at $50.15. The company report on November 2, 2022 that Okta to Host Investor Day Webcast.
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Announces Date of Third Quarter Fiscal Year 2023 Financial Results.
Okta, Inc. (NASDAQ: OKTA), the leading independent identity provider, today announced that it will webcast the Opening Keynote of Oktane22 and Investor Day on November 9, 2022. The company also announced today that it will release its financial results for its third quarter fiscal year 2023 ended October 31, 2022 after the U.S. market close on Wednesday, November 30, 2022. Each presentation will be webcast live on the investor relations section of Okta’s website at investor.okta.com. Details for each event are as follows:.
Okta Inc. stock has also loss -11.29% of its value over the past 7 days. However, OKTA stock has declined by -52.00% in the 3 months of the year. Over the past six months meanwhile, it has lost -54.89% and lost -77.63% year-on date.
The market cap for OKTA stock reached $7.86 billion, with 157.40 million shares outstanding and 150.82 million shares in the current float. Compared to the average trading volume of 4.36M shares, OKTA reached a trading volume of 4057757 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 $93.59 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.
Macquarie have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 02, 2022. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Outperform. The new note on the price target was released on October 19, 2022, representing the official price target for Okta Inc. stock. Previously, the target price had yet another raise to $45, while Evercore ISI analysts kept a Underperform rating on OKTA stock.
The Average True Range (ATR) for Okta Inc. is set at 3.11, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 4.91. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 15.80. Price to Free Cash Flow for OKTA in the course of the last twelve months was 227.23 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 -11.29. With this latest performance, OKTA shares dropped by -15.70% in over the last four-week period, additionally sinking by -54.89% over the last 6 months – not to mention a drop of -80.28% 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 35.02, with the RSI for the last a single of trading hit 31.59, and the three-weeks RSI is set at 36.03 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 60.32, while it was recorded at 53.90 for the last single week of trading, and 110.82 for the last 200 days.
Okta Inc. [OKTA]: An insightful look at the core fundamentals
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 $7,320 million, or 81.80% 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 $694.15 million in OKTA stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $643.61 million in OKTA stock with ownership of nearly -7.276% of the company’s market capitalization.
317 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 42,621,887 shares. Additionally, 298 investors decreased positions by around 15,883,438 shares, while 89 investors held positions by with 87,464,994 shares. The mentioned changes placed institutional holdings at 145,970,319 shares, according to the latest SEC report filing. OKTA stock had 83 new institutional investments in for a total of 2,313,873 shares, while 114 institutional investors sold positions of 2,693,239 shares during the same period.