Okta Inc. (OKTA) Reached A New High 3 times During The Past Five Days


At the last check on Friday, Okta Inc.’s (NASDAQ:OKTA) stock was up $3.16, moving up 3.74 percent to $87.73. The average number of shares traded per day over the past five days has been 1,577,332 shares. 3 times new highs have been achieved over the past 5 days, with a $5.04 gain in that time frame. In the last twenty days, the average volume was 1,930,718, while in the previous 50 days, it was 1,893,173.

Since last month, OKTA stock rose 25.27%. Shares of the company fell to $66.82 on 05/01/23, the lowest level in the past month. A 52-week high of $111.35 was reached on 03/07/23 after having rallying from a 52-week low of $44.12. Since the beginning of this year, OKTA’s stock price has risen by 28.39% or $18.86, and marked a new high 9 times. However, the stock has declined by -21.21% since its 52-week high.

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OKTA stock investors should be aware that Okta Inc. (OKTA) stock had its last reported insider trading activity 32 days ago on Apr 24. Kerrest Jacques Frederic, the Director of the company, disposed of 100 shares for $75.99 on Apr 24. It resulted in a $7,599 divestment by the insider. McKinnon Todd sold 3,117 shares at an average price of $82.48 on Mar 16. The insider now owns 22,813 shares following the transaction. On Mar 16, Chief Financial Officer Tighe Brett sold 2,184 shares at $82.48 apiece. The transaction was valued at $180,132.

Valuation Metrics

The stock’s beta is 1.10. Besides these, the trailing price-to-sales (P/S) ratio of 7.30, the price-to-book (PB) ratio of 2.48, and the price-to-cash flow ratio of 215.39 may also be considered.

Financial Health

In the three months ended January 30, Okta Inc.’s quick ratio stood at 2.20, while its current ratio was 2.20, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending January 30 was 0.40, and the total debt-to-equity ratio was 0.40. On the profitability front, the trailing twelve-month gross margin is 70.60% percent. In the year ended January 30, EBITDA margin amounted to -35.63%, whereas operating margins totaled -43.70%. Based on annual data, OKTA earned $1.31 billion in gross profit and brought in $1.86 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -10.80%. Return on equity (ROE) for the past 12 months was -15.00%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. OKTA’s revenue rose 116.02% to $481.04 million during the quarter, while net income inched up to $510.21 million. While analysts expected Okta Inc. to report $0.09 quarterly earnings, the actual figure was $0.3 per share, beating the consensus estimate by 233.30%. During the quarter, the company generated -$106.78 million in EBITDA. The liabilities of Okta Inc. were 3.84 billion at the end of its most recent quarter ended January 30, and its total debt was $2.37 billion. The value of shareholders’ equity is $161.29 million.

Technical Picture

This quick technical analysis looks at Okta Inc.’s (OKTA) price momentum. With a historical volatility rate of 27.65%, the RSI 9-day stood at 73.43% on 25 May.

With respect to its five-day moving average, the current Okta Inc. price is up by +6.14% percent or $5.04. At present, OKTA shares trade +27.23% above its 20-day simple moving average and +25.36% percent above its 100-day simple moving average. However, the stock is currently trading approximately +3.35% above its SMA50 and -17.50% below its SMA200.

Stochastic coefficient K was 86.94% and Stochastic coefficient D was 85.52%, while ATR was 2.92. Given the Stochastic reading of 94.96% for the 14-day period, the RSI (14) reading has been calculated as 67.62%. As of today, the MACD Oscillator reading stands at 2.47, while the 14-day reading stands at 4.40.

Analyst Ratings

Okta Inc. (OKTA) has been rated Overweight by analysts. According to 3 brokerage firms, OKTA is a sell, and 12 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate Okta Inc. stock as buy, with 24 recommending it as overweight.

With a median target price of $95.00, the current consensus forecast for the stock is $64.00 – $120.00. Based on these forecasts, analysts predict Okta Inc. (OKTA) will achieve an average price target of $93.24.


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