Okta Inc (NASDAQ:OKTA) traded with an addition of $0.34 to $81.04 on Thursday, an upside of 0.42 percent. An average of 1,142,498 shares of common stock have been traded in the last five days. There was a fall of -$0.02 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 2,908,780 shares traded, while the 50-day average volume stands at 2,202,462.
OKTA stock has increased by 12.77% in the last month. The company shares reached their 1-month lowest point of $71.09 on 08/29/23. 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 $91.50 in 52 weeks. It has reached a new high 12 times so far this year and achieved 18.59% or $12.78 in price. In spite of this, the price is down -11.44% 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 10 days ago on Sep 18. In this transaction, the insider spent $620,147. Chief Financial Officer, Tighe Brett, disposed of 4,846 shares at a price of $83.01 on Sep 18. The insider now owns more than $402,253 worth of shares. Prior to that, Chief Accounting Officer Ninan Shibu went on to Sale 3,282 shares at $83.01 each on Sep 18. An amount of $272,430 was transacted.
Valuation Metrics
Okta Inc (OKTA) has a trailing price-to-earnings (P/E) ratio of N/A for the broader industry. The stock’s beta is 0.99. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.44, the price-to-book (PB) ratio at 2.36, and the price-to-cash flow ratio at 43.89.
Financial Health
The quick ratio of Okta Inc for the three months ended July 30 was 1.78, and the current ratio was 1.78, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.28 and a total debt to equity ratio of 0.28 for the quarter ending July 30. Okta Inc’s EBITDA margin for the year ending July 30 is -35.63%, while its operating margin for the same period stands at -31.31%. Its gross profit as reported stood at $1.31 billion compared to revenue of $1.86 billion.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$111.0 million in the quarter, while revenues were shrunk -89.61%. The analyst consensus anticipated Okta Inc’s latest quarter earnings to come in at $0.22 per share, but it turned out to be $0.31, a 40.90% surprise. For the quarter, EBITDA amounted to -$117.0 million. Shareholders own equity worth $164.05 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 27 September was 46.84%, suggesting the stock is Neutral, with historical volatility in this time frame at 21.54%.
As of today, OKTA’s price is $80.46 -0.02% or -$0.02 from its 5-day moving average. OKTA is currently trading +10.25% higher than its 20-day SMA and +9.93% higher than its 100-day SMA. However, the stock’s current price level is +15.26% above the SMA50 and +25.91% above the SMA200.
The stochastic %K and %D were 11.71% and 7.33%, respectively, and the average true range (ATR) was 2.30. With the 14-day stochastic at 17.14% and the average true range at 2.45, the RSI (14) stands at 51.11%. The stock has reached -0.87 on the 9-day MACD Oscillator while the 14-day reading was at -2.92.
Analyst Ratings
Evercore ISI upgraded Okta Inc (NASDAQ: OKTA) to a an In-line rating in its most recent analyst report. Previously, the stock was rated as an Underperform.
