As of Wednesday close, Okta Inc.’s (NASDAQ:OKTA) stock was up $0.11, moving up 0.15 percent to $72.37. The average number of shares traded per day over the past five days has been 1,562,360 shares. 3 times new highs have been achieved over the past 5 days, with a $2.42 gain in that time frame. In the last twenty days, the average volume was 1,653,945, while in the previous 50 days, it was 2,133,782.
Since last month, OKTA stock rose 2.16%. Shares of the company fell to $69.30 on 07/20/23, the lowest level in the past month. A 52-week high of $107.10 was reached on 05/31/23 after having rallying from a 52-week low of $44.12. Since the beginning of this year, OKTA’s stock price has risen by 5.91% or $4.04, and marked a new high 12 times. However, the stock has declined by -32.43% 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 62 days ago on Jun 16. McKinnon Todd, the Chief Executive Officer of the company, disposed of 6,897 shares for $75.60 on Jun 16. It resulted in a $521,410 divestment by the insider. Tighe Brett sold 4,380 shares at an average price of $75.60 on Jun 16. The insider now owns 48,516 shares following the transaction. On Jun 16, Schwartz Larissa sold 1,958 shares at $75.60 apiece. The transaction was valued at $148,024.
Valuation Metrics
The stock’s beta is 1.01. Besides these, the trailing price-to-sales (P/S) ratio of 6.05, the price-to-book (PB) ratio of 2.11, and the price-to-cash flow ratio of 66.98 may also be considered.
Financial Health
In the three months ended April 29, Okta Inc.’s quick ratio stood at 2.10, while its current ratio was 2.10, 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 April 29 was 0.33, and the total debt-to-equity ratio was 0.33. On the profitability front, the trailing twelve-month gross margin is 71.60% percent. In the year ended April 29, EBITDA margin amounted to -35.63%, whereas operating margins totaled -35.80%. 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 -12.60%.
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 19.9% to $510.21 million during the quarter, while net income inched up to $518.0 million. While analysts expected Okta Inc. to report $0.13 quarterly earnings, the actual figure was $0.22 per share, beating the consensus estimate by 69.20%. During the quarter, the company generated -$111.0 million in EBITDA. The liabilities of Okta Inc. were 3.37 billion at the end of its most recent quarter ended April 29, and its total debt was $1.96 billion. The value of shareholders’ equity is $162.36 million.
Technical Picture
This quick technical analysis looks at Okta Inc.’s (OKTA) price momentum. With a historical volatility rate of 24.80%, the RSI 9-day stood at 51.80% on 16 August.
With respect to its five-day moving average, the current Okta Inc. price is up by +3.46% percent or $2.42. At present, OKTA shares trade +2.84% above its 20-day simple moving average and -14.11% percent below its 100-day simple moving average. However, the stock is currently trading approximately +0.50% above its SMA50 and +28.02% above its SMA200.
Stochastic coefficient K was 37.76% and Stochastic coefficient D was 34.60%, while ATR was 2.32. Given the Stochastic reading of 38.74% for the 14-day period, the RSI (14) reading has been calculated as 50.97%. As of today, the MACD Oscillator reading stands at 0.35, while the 14-day reading stands at -0.55.
Analyst Ratings
Goldman upgraded its rating on Okta Inc. (NASDAQ: OKTA) to a Buy in a note to investors on August 14, 2023. The analysts firm previously had a Sell rating on the stock.Okta Inc. (OKTA) has been rated Overweight by analysts. According to 2 brokerage firms, OKTA is a sell, and 13 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 $94.00, 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 $93.11.
