Okta Inc. (NASDAQ: OKTA) is 7.61% higher on its value in year-to-date trading and has touched a low of $147.24 and a high of $294.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OKTA stock was last observed hovering at around $281.84 in the last trading session, with the day’s loss setting it -8.22% off its average median price target of $277.50 for the next 12 months. It is also 13.41% off the consensus price target high of $316.00 offered by 23 analysts, but current levels are -16.43% lower than the price target low of $235.00 for the same period.
Currently trading at $273.62, the stock is 6.47% and 11.31% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.58 million and changing -2.92% at the moment leaves the stock 16.17% off its SMA200. OKTA registered 82.95% gain for a year compared to 6-month loss of 23.63%. The firm has a 50-day simple moving average (SMA 50) of $238.98 and a 200-day simple moving average (SMA200) of $241.90.
The stock witnessed a 28.13% gain in the last 1 month and extending the period to 3 months gives it a 5.86%, and is -0.49% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.89% over the week and 4.01% over the month.
Okta Inc. (OKTA) has around 2806 employees, a market worth around $35.34B and $835.40M in sales. Profit margin for the company is -31.90%. Distance from 52-week low is 85.83% and -6.93% from its 52-week high. The company has generated returns on investments over the last 12 months (-8.40%).
Okta Inc. (OKTA) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Okta Inc. (OKTA) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.10, where 9 rate it as a Hold and 1 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Okta Inc. is expected to release its quarterly report on 05/28/2021 and quarterly earnings per share for the current quarter are estimated at -$0.2 with sales reaching $238.45M over the same period.The EPS is expected to shrink by -17.50% this year, but quarterly earnings will post 30.40% year-over-year.
Okta Inc. (OKTA) Top Institutional Holders
986 institutions hold shares in Okta Inc. (OKTA), with 1.54M shares held by insiders accounting for 1.17% while institutional investors hold 83.84% of the company’s shares. The shares outstanding are 130.18M, and float is at 119.78M with Short Float at 5.03%. Institutions hold 82.86% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 11.04 million shares valued at $2.81 billion. The investor’s holdings represent 8.97% of the OKTA Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 9.51 million shares valued at $2.42 billion to account for 7.73% of the shares outstanding. The other top investors are Morgan Stanley which holds 9.28 million shares representing 7.54% and valued at over $2.36 billion, while FMR, LLC holds 7.25% of the shares totaling 8.93 million with a market value of $2.27 billion.
Okta Inc. (OKTA) Insider Activity
A total of 82 insider transactions have happened at Okta Inc. (OKTA) in the last six months, with sales accounting for 59 and purchases happening 23 times. The most recent transaction is an insider sale by KRAMER CHRISTOPHER K, the company’s Chief Accounting Officer. SEC filings show that KRAMER CHRISTOPHER K sold 3,333 shares of the company’s common stock on Apr 15 at a price of $266.11 per share for a total of $0.89 million. Following the sale, the insider now owns 8473.0 shares.
Okta Inc. disclosed in a document filed with the SEC on Mar 22 that KOUREY MICHAEL R (Chief Financial Officer) sold a total of 20,000 shares of the company’s common stock. The trade occurred on Mar 22 and was made at $221.86 per share for $4.44 million. Following the transaction, the insider now directly holds 0.0 shares of the OKTA stock.
Still, SEC filings show that on Mar 16, KRAMER CHRISTOPHER K (Chief Accounting Officer) disposed off 1,541 shares at an average price of $228.81 for $0.35 million. The insider now directly holds 6,587 shares of Okta Inc. (OKTA).
Okta Inc. (OKTA): Who are the competitors?
The company’s main competitors (and peers) include Progress Software Corporation (PRGS) that is trading 7.53% up over the past 12 months. Short interest in the company’s stock has fallen -6.91% from the last report on Apr 14, 2021 to stand at a total of 6.03 million short shares sold with a short interest ratio of 3.09.