Okta Inc. [NASDAQ: OKTA] price surged by 2.38 percent to reach at $1.71. The company report on August 30, 2023 at 4:01 PM that Okta Announces Second Quarter Fiscal Year 2024 Financial Results.
Q2 revenue grew 23% year-over-year; subscription revenue grew 24% year-over-year.
Current remaining performance obligations (cRPO) grew 18% year-over-year to $1.77 billion.
A sum of 4519021 shares traded at recent session while its average daily volume was at 2.51M shares. Okta Inc. shares reached a high of $73.79 and dropped to a low of $71.775 until finishing in the latest session at $73.57.
The one-year OKTA stock forecast points to a potential upside of 21.42. The average equity rating for OKTA stock is currently 2.20, 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 $93.62 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 Buy, with their previous recommendation back on August 14, 2023.
The Average True Range (ATR) for Okta Inc. is set at 2.27, with the Price to Sales ratio for OKTA stock in the period of the last 12 months amounting to 6.02. The Price to Book ratio for the last quarter was 2.14, with the Price to Cash per share for the same quarter was set at 14.77. Price to Free Cash Flow for OKTA in the course of the last twelve months was 66.65 with Quick ratio for the last quarter at 2.10.
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 0.08. With this latest performance, OKTA shares dropped by -3.44% in over the last four-week period, additionally plugging by 2.98% over the last 6 months – not to mention a drop of -18.07% 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 54.67, with the RSI for the last a single of trading hit 57.47, and the three-weeks RSI is set at 52.82 for Okta Inc. [OKTA]. The present Moving Average for the last 50 days of trading for this stock 71.31, while it was recorded at 72.23 for the last single week of trading, and 72.45 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 -41.77 and a Gross Margin at +70.61. Okta Inc.’s Net Margin is presently recorded at -43.86.
Return on Total Capital for OKTA is now -9.83, given the latest momentum, and Return on Invested Capital for the company is -10.38. Return on Equity for this stock declined to -14.31, with Return on Assets sitting at -8.80. When it comes to the capital structure of this company, Okta Inc. [OKTA] has a Total Debt to Total Equity ratio set at 43.30. Additionally, OKTA Total Debt to Total Capital is recorded at 30.22, with Total Debt to Total Assets ending up at 25.43. Long-Term Debt to Equity for the company is recorded at 42.72, with the Long-Term Debt to Total Capital now at 29.81.
Reflecting on the efficiency of the workforce at the company, Okta Inc. [OKTA] managed to generate an average of -$135,540 per employee. Receivables Turnover for the company is 4.15 with a Total Asset Turnover recorded at a value of 0.20.Okta Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.
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] Institutonal Ownership Details
The top three institutional holders of OKTA stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in OKTA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in OKTA stock with ownership which is approximately 5.7381%.