At the last check on Thursday, Okta Inc.’s (NASDAQ:OKTA) stock was down -$1.71, moving down -2.05 percent to $81.82. The average number of shares traded per day over the past five days has been 2,210,222 shares. 1 time new highs have been achieved over the past 5 days, with a -$3.96 fall in that time frame. In the last twenty days, the average volume was 3,123,111, while in the previous 50 days, it was 2,354,686.
Since last month, OKTA stock rose 14.62%. Shares of the company fell to $70.17 on 08/25/23, the lowest level in the past month. A 52-week high of $91.50 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 19.74% or $13.74, and marked a new high 12 times. However, the stock has declined by -10.58% since its 52-week high.
OKTA stock investors should be aware that Okta Inc. (OKTA) stock had its last reported insider trading activity 3 days ago on Sep 18. McKinnon Todd, the Chief Executive Officer of the company, disposed of 7,471 shares for $83.01 on Sep 18. It resulted in a $620,147 divestment by the insider. Tighe Brett sold 4,846 shares at an average price of $83.01 on Sep 18. The insider now owns 56,613 shares following the transaction. On Sep 18, Chief Accounting Officer Ninan Shibu sold 3,282 shares at $83.01 apiece. The transaction was valued at $272,430.
Valuation Metrics
The stock’s beta is 0.99. Besides these, the trailing price-to-sales (P/S) ratio of 6.37, the price-to-book (PB) ratio of 2.36, and the price-to-cash flow ratio of 52.26 may also be considered.
Financial Health
In the three months ended July 31, Okta Inc.’s quick ratio stood at 1.80, while its current ratio was 1.80, 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 July 31 was 0.26, and the total debt-to-equity ratio was 0.26. On the profitability front, the trailing twelve-month gross margin is 72.50% percent. In the year ended July 31, EBITDA margin amounted to -35.63%, whereas operating margins totaled -29.70%. 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 -10.70%.
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 18.74% to $518.0 million during the quarter, while net income inched up to $556.0 million. While analysts expected Okta Inc. to report $0.22 quarterly earnings, the actual figure was $0.31 per share, beating the consensus estimate by 40.90%. During the quarter, the company generated -$117.0 million in EBITDA. The liabilities of Okta Inc. were 3.07 billion at the end of its most recent quarter ended July 31, and its total debt was $1.57 billion. The value of shareholders’ equity is $164.05 million.
Technical Picture
This quick technical analysis looks at Okta Inc.’s (OKTA) price momentum. With a historical volatility rate of 28.21%, the RSI 9-day stood at 47.12% on 20 September.
With respect to its five-day moving average, the current Okta Inc. price is down by -4.60% percent or -$3.96. At present, OKTA shares trade +11.64% above its 20-day simple moving average and +19.76% percent above its 100-day simple moving average. However, the stock is currently trading approximately +15.67% above its SMA50 and +26.11% above its SMA200.
Stochastic coefficient K was 34.41% and Stochastic coefficient D was 49.35%, while ATR was 2.74. Given the Stochastic reading of 6.68% for the 14-day period, the RSI (14) reading has been calculated as 52.95%. As of today, the MACD Oscillator reading stands at -2.59, while the 14-day reading stands at -3.32.
Analyst Ratings
Evercore ISI upgraded its rating on Okta Inc. (NASDAQ: OKTA) to an In-line in a note to investors on August 31, 2023. The analysts firm previously had an Underperform rating on the stock.Okta Inc. (OKTA) has been rated Overweight by analysts. According to 0 brokerage firms, OKTA is a sell, and 15 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 3 analysts rate Okta Inc. stock as buy, with 23 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 $95.12.
