Okta Inc. (NASDAQ:OKTA) finished Friday with a subtraction of -$0.68 to close at $71.40, a downside of -0.94 percent. An average of 1,278,640 shares of common stock have been traded in the last five days. There was a fall of -$1.16 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 1,831,415 shares traded, while the 50-day average volume stands at 2,640,220.
OKTA stock has decreased by -2.90% in the last month. The company shares reached their 1-month lowest point of $69.30 on 07/20/23. With the stock rallying to its 52-week high on 05/31/23, shares of the company touched a low of $44.12 and a high of $109.35 in 52 weeks. It has reached a new high 12 times so far this year and achieved 4.49% or $3.07 in price. In spite of this, the price is down -34.70% from the 52-week high.
Insider Transactions
OKTA stock investors should be aware that Okta Inc. (OKTA) stock had its last reported insider trading activity 57 days ago on Jun 16. In this transaction, the insider spent $521,410. Chief Financial Officer, Tighe Brett, disposed of 4,380 shares at a price of $75.60 on Jun 16. The insider now owns more than $331,126 worth of shares. Prior to that, Schwartz Larissa went on to Sale 1,958 shares at $75.60 each on Jun 16. An amount of $148,024 was transacted.
Valuation Metrics
Okta Inc. (OKTA) stock’s beta is 1.01. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.94, the price-to-book (PB) ratio at 2.08, and the price-to-cash flow ratio at 65.80.
Financial Health
The quick ratio of Okta Inc. for the three months ended April 29 was 2.10, and the current ratio was 2.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.33 and a total debt to equity ratio of 0.00 for the quarter ending April 29. Okta Inc.’s EBITDA margin for the year ending April 29 is -35.63%, while its operating margin for the same period stands at -35.80%. Its gross profit as reported stood at $1.31 billion compared to revenue of $1.86 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Okta Inc.’s return on assets was -7.60%.
Earnings Surprise
For the three-month period that ended April 29, Okta Inc. had $2.25 billion in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$119.0 million in the quarter, while revenues of -$152.92 million were shrunk -103.96%. The analyst consensus anticipated Okta Inc.’s latest quarter earnings to come in at $0.13 per share, but it turned out to be $0.22, a 69.20% surprise. For the quarter, EBITDA amounted to -$111.0 million. Shareholders own equity worth $162.36 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Okta Inc. (OKTA) price momentum. RSI 9-day as of the close on 11 August was 47.22%, suggesting the stock is Neutral, with historical volatility in this time frame at 34.00%.
As of today, OKTA’s price is $71.61 -1.60% or -$1.16 from its 5-day moving average. OKTA is currently trading +1.00% higher than its 20-day SMA and -15.24% lower than its 100-day SMA. However, the stock’s current price level is -21.45% below the SMA50 and +30.51% above the SMA200.
The stochastic %K and %D were 22.30% and 24.60%, respectively, and the average true range (ATR) was 2.38. With the 14-day stochastic at 25.74% and the average true range at 2.40, the RSI (14) stands at 48.09%. The stock has reached -1.31 on the 9-day MACD Oscillator while the 14-day reading was at -1.37.
Analyst Ratings
JP Morgan downgraded Okta Inc. (NASDAQ: OKTA) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Overweight.
