The stock of Okta Inc. (NASDAQ:OKTA) decreased by -$0.26 on Tuesday to finish at $71.86, down -0.36 percent. The last five days have seen an average of 1,595,180 shares of common stock traded. 12 times new highs were reached in the current year, with a gain of $3.53. The average number of shares traded over the last 20 days was 1,572,460, while the average volume over the last 50 days totaled 1,911,484.
OKTA stock dropped -6.51% since last month. On 08/18/23, the company’s shares reached a one-month low of $68.79. The stock touched a high of $94.78 on 05/31/23, after rallying from a low of $44.12 in 52 weeks. The price of OKTA stock has risen by 5.17% or $3.53 this year, reaching a new high 12 times. Still, the stock price is down -24.18% 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 75 days ago on Jun 16. On Jun 16, Chief Executive Officer McKinnon Todd sold 6,897 shares at $75.60 each. This transaction resulted in the insider making $521,410. On Jun 16, Tighe Brett sold 4,380 shares at a price of US$75.60. After the transaction, the insider now owns 48,516 shares. Schwartz Larissa had earlier sold 1,958 shares on Jun 16 for $75.60 a share. The transaction was completed for $148,024.
Valuation Metrics
Beta for the stock is 1.01. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.88, the price-to-book (PB) ratio of 2.10, and the price-to-cash flow ratio of 65.10.
Financial Health
For the recent quarter, Okta Inc.’s quick ratio was 2.10, while its current ratio was 2.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 0.33, and the total debt to equity ratio is 0.33. As far as profitability goes, gross margin for the trailing twelve months is 71.60% percent. Okta Inc.’s EBITDA margin for the recent year was -35.63%, whereas its operating margin stood at -35.80% for the same period. Based on annual data, it had gross profit of $1.31 billion and revenue of $1.86 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 -7.60%. There was a -10.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -12.60%.
Earnings Surprise
A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $518.0 million, while revenues rose by 19.9% to $510.21 million. EBITDA was -$111.0 million for the quarter. At the end of Okta Inc.’s most recent quarter, its liabilities totaled 3.37 billion, while its total debt was $1.96 billion. Equity owned by shareholders amounts to $162.36 million.
Technical Picture
Here’s a quick look at Okta Inc.’s (OKTA) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 48.92%, suggesting the stock is Neutral, with a 30.77% historical volatility rate.
The stochastic %K and %D were 55.88% and 56.65% respectively, while the average true range (ATR) was 2.24. Based on the 14-day stochastic reading of 52.30%, the RSI (14) reading is 49.33%. On the 9-day MACD Oscillator, the stock is at 0.09, and the 14-day reading is at 0.05.
Analyst Ratings
In its most recent analyst report, Goldman raised its rating on Okta Inc. (NASDAQ: OKTA) to a Buy. Prior to this, analysts firm rated the stock as a Sell. Analysts have assigned Okta Inc. (OKTA) an Overweight rating. OKTA is a stock that is recommended for selling by 2 brokerage firms, while 13 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 2 rates it overweight and 24 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 $64.00 and $120.00, with a median target price of $91.00. In analyzing these forecasts, the average price target given by analysts for Okta Inc. (OKTA) is $92.49.
