Views On Okta Inc. (OKTA) From A Technical Perspective

The stock of Okta Inc. (NASDAQ:OKTA) increased by $3.53 on Wednesday to $87.65, up 4.20 percent. The last five days have seen an average of 2,980,756 shares of common stock traded. 1 time new highs were reached in the current year, with a fall of -$136.91. The average number of shares traded over the last 20 days was 4,069,904, while the average volume over the last 50 days totaled 3,245,494.

OKTA stock appreciated 1.31% since last month. On 05/24/22, the company’s shares reached a one-month low of $77.01. The stock touched a high of $276.30 on 01/03/22, after rallying from a low of $77.01 in 52 weeks. The price of OKTA stock has declined by -62.47% or -$136.91 this year, reaching a new high 1 time. Still, the stock price is down -68.28% from the 52-week high.


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Insider Transactions

There have been 6 days since Okta Inc. (OKTA) last reported insider trading activity on Jun 16. On Jun 16, Chief Financial Officer Tighe Brett sold 5,913 shares at $79.97 each. This transaction resulted in the insider making $472,883. On Jun 16, St. Ledger Susan sold 2,660 shares at a price of US$79.97. After the transaction, the insider now owns 36,641 shares. General Counsel and Secretary Runyan Jonathan T had earlier sold 2,933 shares on Jun 16 for $79.97 a share. The transaction was completed for $234,562.

Valuation Metrics

Beta for the stock is 1.11. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 8.67, the price-to-book (PB) ratio of 2.40, and the price-to-cash flow ratio of 241.70.

Financial Health

For the three months ended January 30, Okta Inc.’s quick ratio was 2.40, while its current ratio was 2.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending January 30 is 0.40, and the total debt to equity ratio is 0.40. As far as profitability goes, gross margin for the trailing twelve months is 68.50% percent. Okta Inc.’s operating margin stood at -62.60% for the same period. Based on annual data, it had gross profit of $903.8 million and revenue of $1.3 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. OKTA’s return on assets (ROA) during the last 12 months has been -10.90%. There was a -9.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -16.80%.

Earnings Surprise

According to Okta Inc.’s quarterly financial report for the quarter that ended January 30, it had $2.29 billion in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $414.94 million, while revenues rose by 39.51% to -$81.76 million. It was predicted that Okta Inc.’s quarterly earnings would be -$0.18, but it ended up being -$0.24, beating the consensus by 25.00%. EBITDA was -$189.04 million for the quarter. At the end of Okta Inc.’s most recent quarter ended January 30, its liabilities totaled 3.57 billion, while its total debt was $2.03 billion. Equity owned by shareholders amounts to $157.78 million.

Technical Picture

Here’s a quick look at Okta Inc.’s (OKTA) price momentum from a technical perspective. As of 21 June, the RSI 9-day stood at 49.11%, suggesting the stock is Neutral, with a 88.19% historical volatility rate.

The stochastic %K and %D were 20.12% and 15.38% respectively, while the average true range (ATR) was 6.66. Based on the 14-day stochastic reading of 27.84%, the RSI (14) reading is 45.97%. On the 9-day MACD Oscillator, the stock is at -0.56, and the 14-day reading is at -5.04.

Analyst Ratings

In its analyst report released on May 26, 2022, Stephens began covering Okta Inc. (NASDAQ: OKTA). The stock was rated as an Overweight by the brokerage firm. Analysts have assigned Okta Inc. (OKTA) an Buy rating. OKTA is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 23 others recommend it as a buy.

What is OKTA’s price target for the next 12 months?

The current consensus forecast for the stock is between $115.00 and $195.00, with a median target price of $150.00. In analyzing these forecasts, the average price target given by analysts for Okta Inc. (OKTA) is $148.96.

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