Okta Inc. [NASDAQ: OKTA] surged by $0.15 during the normal trading session on Wednesday and reaching a high of $72.64 during the day while it closed the day at $71.44.
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Okta Inc. stock has also loss -1.54% of its value over the past 7 days. However, OKTA stock has inclined by 42.31% in the 3 months of the year. Over the past six months meanwhile, it has lost -20.45% and gained 4.55% year-on date.
The market cap for OKTA stock reached $11.63 billion, with 158.71 million shares outstanding and 151.76 million shares in the current float. Compared to the average trading volume of 3.18M shares, OKTA reached a trading volume of 3423197 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 $81.10 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 2.20. 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.
Goldman have made an estimate for Okta Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on February 14, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price to Underperform. The new note on the price target was released on February 13, 2023, representing the official price target for Okta Inc. stock. Previously, the target price had yet another raise to $90, while Needham analysts kept a Buy rating on OKTA stock. On January 30, 2023, analysts increased their price target for OKTA shares from 60 to 90.
The Average True Range (ATR) for Okta Inc. is set at 3.14, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 6.72. The Price to Book ratio for the last quarter was 2.10, with the Price to Cash per share for the same quarter was set at 15.20. Price to Free Cash Flow for OKTA in the course of the last twelve months was 1571.00 with Quick ratio for the last quarter at 2.30.
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 -1.54. With this latest performance, OKTA shares gained by 3.22% in over the last four-week period, additionally sinking by -20.45% over the last 6 months – not to mention a drop of -60.93% 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 46.14, with the RSI for the last a single of trading hit 40.16, and the three-weeks RSI is set at 49.53 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 71.03, while it was recorded at 72.01 for the last single week of trading, and 74.54 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 2.30 and a Current Ratio set at 2.30.
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 $8,947 million, or 81.50% of OKTA stock, in the hands of institutional investors. The top three institutional holders of OKTA stocks are: VANGUARD GROUP INC with ownership of 14,043,781, which is approximately -0.253% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 9,706,282 shares of the stock with an approximate value of $693.42 million in OKTA stocks shares; and FMR LLC, currently with $582.73 million in OKTA stock with ownership of nearly -7.323% of the company’s market capitalization.
Positions in Okta Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 314 institutional holders increased their position in Okta Inc. [NASDAQ:OKTA] by around 25,976,621 shares. Additionally, 292 investors decreased positions by around 19,551,412 shares, while 77 investors held positions by with 79,715,742 shares. The mentioned changes placed institutional holdings at 125,243,775 shares, according to the latest SEC report filing. OKTA stock had 117 new institutional investments in for a total of 8,703,839 shares, while 97 institutional investors sold positions of 2,976,638 shares during the same period.