Okta (OKTA) Stock Price, News & Analysis

Company Overview

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. It also provides Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Lifecycle Management enables IT organizations or developers to manage a user's identity throughout its lifecycle; Okta Identity Governance provides identity access management and identity governance solutions; Advanced Server Access offers access management to secure cloud infrastructure; Okta Privileged Access enables organizations to reduce risk with unified access and governance management for on-premises and cloud resources; and Okta Workforce Identity Workflows. In addition, the company offers Universal Login, which allows customers to provide login experience across different applications and devices; and Attack Protection, a suite of security capabilities that protects customers from different types of malicious traffic. Further, it provides Adaptive Multi-Factor Authentication, Passwordless, Machine to Machine, Private Cloud, Organizations, Actions and Extensibility, and Enterprise Connections. The company sells its products directly to customers through sales force and channel partners. The company was formerly known as Saasure, Inc. Okta, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.

Key Stats

• Today's Range: $74.16 to $77.26
• 50-Day Range: $71.81 to $78.65
• 52-Week Range: $66.69 to $114.50
• Volume: 3.90 million shs
• Average Volume: 1.93 million shs
• Market Capitalization: $13.07 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $98.30
• Consensus Rating: Hold

Okta Stock Analysis - MarketRank™

Okta scored higher than 97% of companies evaluated by MarketBeat, and ranked 36th out of 650 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.2 / 5
• Analyst Rating: Hold

Consensus Rating

Okta has received a consensus rating of Hold. The company's average rating score is 2.34, and is based on 12 buy ratings, 19 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Okta has been the subject of 24 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 110.53%

Earnings Growth

Earnings for Okta are expected to grow by 110.53% in the coming year, from $0.19 to $0.40 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Okta is -90.56, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Okta is -90.56, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Growth Ratio

Okta has a PEG Ratio of 18.24. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Okta has a P/B Ratio of 2.16. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.79% of the outstanding shares of Okta have been sold short.

Short Interest Ratio / Days to Cover

Okta has a short interest ratio ("days to cover") of 1.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Okta has recently decreased by 14.85%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Okta does not currently pay a dividend.

Dividend Growth

Okta does not have a long track record of dividend growth.

Sustainability and ESG

• Score: 3.7 / 5
• Environmental Score: -0.60

Percentage of Shares Shorted

1.79% of the outstanding shares of Okta have been sold short.

Short Interest Ratio / Days to Cover

Okta has a short interest ratio ("days to cover") of 1.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Okta has recently decreased by 14.85%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 1.7 / 5
• News Sentiment: 0.03

News Sentiment

Okta has a news sentiment score of 0.03. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.60 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 13 news articles for Okta this week, compared to 14 articles on an average week.

Search Interest

Only 32 people have searched for OKTA on MarketBeat in the last 30 days. This is a decrease of -6% compared to the previous 30 days.

MarketBeat Follows

17 people have added Okta to their MarketBeat watchlist in the last 30 days. This is an increase of 13% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Okta insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $35,701,361.00 in company stock.

Percentage Held by Insiders

Only 7.00% of the stock of Okta is held by insiders.

Percentage Held by Institutions

86.64% of the stock of Okta is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

OKTA Stock Analysis - Frequently Asked Questions

How have OKTA shares performed this year?

Okta's stock was trading at $90.53 at the beginning of the year. Since then, OKTA shares have decreased by 18.6% and is now trading at $73.66.
View the best growth stocks for 2024 here.

How were Okta's earnings last quarter?

Okta, Inc. (NASDAQ:OKTA) announced its quarterly earnings data on Wednesday, August, 28th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.29. The firm had revenue of $646 million for the quarter, compared to analyst estimates of $632.24 million. Okta had a negative trailing twelve-month return on equity of 1.10% and a negative net margin of 5.55%.

Does Okta have any subsidiaries?

The following companies are subsidiaries of Okta: Azuqua, Workflow Automation, ScaleFT, Stormpath, SpydrSafe Mobile Security, Azuqua Inc., Okta Australia Pty Limited, and more.

When did Okta IPO?

Okta (OKTA) raised $154 million in an initial public offering on Friday, April 7th 2017. The company issued 11,000,000 shares at a price of $13.00-$15.00 per share. Goldman, Sachs, J.P. Morgan Securities and Allen & Company acted as the underwriters for the IPO and Pacific Crest Securities (a division of KeyBanc Capital Markets), Canaccord Genuity and JMP Securities were co-managers.

Who are Okta's major shareholders?

Top institutional investors of Okta include Champlain Investment Partners LLC (2.22%), Geode Capital Management LLC (1.51%), Whale Rock Capital Management LLC (1.28%) and ArrowMark Colorado Holdings LLC (0.92%). Insiders that own company stock include Jonathan T Runyan, Ledger Susan St, Brett Tighe, Larissa Schwartz, Jonathan James Addison, Christopher K Kramer, Shellye L Archambeau, Shibu Ninan, Robert L Dixon Jr, Jacques Frederic Kerrest and Todd Mckinnon.
View institutional ownership trends.

How do I buy shares of Okta?

Shares of OKTA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Okta own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Okta investors own include Block (SQ), Digital Turbine (APPS), CrowdStrike (CRWD), Palantir Technologies (PLTR), SoFi Technologies (SOFI), Archer Aviation (ACHR) and ChargePoint (CHPT).

Company Calendar

• Last Earnings: 8/28/2024
• Today: 11/21/2024
• Next Earnings (Confirmed): 12/03/2024
• Fiscal Year End: 1/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Prepackaged software
• Sub-Industry: Computer Software
• Current Symbol: NASDAQ:OKTA
• CUSIP: N/A
• CIK: 1660134
• Web: www.okta.com
• Phone: (888) 722-7871
• Fax: N/A
• Employees: 5,908
• Year Founded: 2009

Price Target and Rating

• Average Stock Price Target: $98.30
• High Stock Price Target: $140.00
• Low Stock Price Target: $74.00
• Potential Upside/Downside: +33.4%
• Consensus Rating: Hold
• Rating Score (0-4): 2.34
• Research Coverage: 32 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.84)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: 387.84
• P/E Growth: 18.03
• Net Income: $-355,000,000.00
• Net Margins: -5.55%
• Pretax Margin: -5.22%
• Return on Equity: -1.10%
• Return on Assets: -0.73%

Debt

• Debt-to-Equity Ratio: 0.18
• Current Ratio: 1.83
• Quick Ratio: 1.83

Sales & Book Value

• Annual Sales: $2.26 billion
• Price / Sales: 5.53
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $35.17 per share
• Price / Book: 2.10

Miscellaneous

• Outstanding Shares: 169,860,000
• Free Float: 157,972,000
• Market Cap: $12.52 billion
• Optionable: Optionable
• Beta: 1.02