Okta (NASDAQ:OKTA) Price Target Lowered to $100.00 at BMO Capital Markets (2024)

Okta (NASDAQ:OKTA - Free Report) had its price target lowered by BMO Capital Markets from $110.00 to $100.00 in a report released on Monday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Get Okta alerts:

Other research analysts also recently issued research reports about the company. Robert W. Baird increased their target price on Okta from $90.00 to $108.00 and gave the company an outperform rating in a report on Thursday, February 29th. Piper Sandler increased their target price on Okta from $85.00 to $110.00 and gave the company a neutral rating in a report on Thursday, February 29th. Evercore ISI raised Okta from an in-line rating to an outperform rating and increased their target price for the company from $102.00 to $122.00 in a report on Thursday. Susquehanna lowered their target price on Okta from $115.00 to $110.00 and set a neutral rating on the stock in a report on Thursday. Finally, Needham & Company LLC reissued a buy rating and issued a $130.00 target price on shares of Okta in a report on Thursday. Nineteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Okta currently has a consensus rating of Hold and a consensus price target of $104.48.

View Our Latest Report on OKTA

Ad Brooks EnterprisesWas the Great Financial Crisis fun?The Great Financial Crisis, which actually started in the summer of 2007 and did not end until March of 2009, was terrible!The majority of market indexes lost over 50% of their value.Almost every day, traders would look at their trading accounts and just see a sea of red.Get those kind of results during the Great Financial Crisis, without having to study more

Okta Stock Performance

Shares of Okta stock traded down $0.18 during trading on Monday, hitting $88.50. 2,332,934 shares of the company's stock traded hands, compared to its average volume of 1,934,431. Okta has a 1 year low of $65.04 and a 1 year high of $114.50. The business has a 50-day simple moving average of $97.98 and a 200-day simple moving average of $90.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $14.81 billion, a P/E ratio of -53.75 and a beta of 1.03.

Insider Buying and Selling

In related news, Director Shellye L. Archambeau sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company's stock, valued at approximately $646,252.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Shellye L. Archambeau sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company's stock, valued at approximately $646,252.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Shibu Ninan sold 4,279 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the sale, the chief accounting officer now directly owns 4,111 shares of the company's stock, valued at $428,119.54. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Okta

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Okta by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company's stock worth $1,658,073,000 after acquiring an additional 128,906 shares in the last quarter. Sands Capital Management LLC raised its position in shares of Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company's stock worth $756,687,000 after acquiring an additional 2,486,456 shares in the last quarter. First Trust Advisors LP grew its stake in Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company's stock worth $369,854,000 after buying an additional 897,216 shares during the last quarter. Cerity Partners LLC grew its stake in Okta by 6,192.3% during the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company's stock worth $287,181,000 after buying an additional 3,121,809 shares during the last quarter. Finally, Eminence Capital LP grew its stake in Okta by 19.4% during the 4th quarter. Eminence Capital LP now owns 1,910,621 shares of the company's stock worth $172,969,000 after buying an additional 310,918 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Company Profile

(Get Free Report)

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

Should you invest $1,000 in Okta right now?

Before you consider Okta, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Okta wasn't on the list.

While Okta currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 AI Stocks to Invest In: An Introduction to AI Investing For Self-Directed Investors

As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.

Get This Free Report