Okta OKTA has been analyzed by 9 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 3 | 4 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 2 | 3 | 3 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts have set 12-month price targets for Okta, revealing an average target of $118.0, a high estimate of $130.00, and a low estimate of $100.00. This upward trend is evident, with the current average reflecting a 1.83% increase from the previous average price target of $115.88.
Breaking Down Analyst Ratings: A Detailed Examination
A comprehensive examination of how financial experts perceive Okta is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Keith Bachman | BMO Capital | Lowers | Market Perform | $100.00 | $110.00 |
| Brian Essex | JP Morgan | Raises | Neutral | $110.00 | $105.00 |
| Roger Boyd | UBS | Lowers | Buy | $120.00 | $130.00 |
| Shyam Patil | Susquehanna | Lowers | Neutral | $110.00 | $115.00 |
| Peter Levine | Evercore ISI Group | Raises | Outperform | $122.00 | $102.00 |
| Alex Henderson | Needham | Maintains | Buy | $130.00 | $130.00 |
| Taz Koujalgi | Wedbush | Maintains | Outperform | $130.00 | $130.00 |
| Gregg Moskowitz | Mizuho | Raises | Neutral | $110.00 | $105.00 |
| Taz Koujalgi | Wedbush | Maintains | Outperform | $130.00 | - |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Okta. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Okta compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Okta's stock. This comparison reveals trends in analysts' expectations over time.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Okta's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Okta analyst ratings.
About Okta
Okta is a cloud-native security company that focuses on identity and access management. The San Francisco-based firm went public in 2017 and focuses on two key client stakeholder groups: workforces and customers. Okta's workforce offerings enable a company's employees to securely access its cloud-based and on-premises resources. The firm's customer offerings allow its clients' customers to securely access the client's applications.
Key Indicators: Okta's Financial Health
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Positive Revenue Trend: Examining Okta's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 19.11% as of 30 April, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -6.48%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -0.68%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Okta's ROA excels beyond industry benchmarks, reaching -0.45%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.21.
Analyst Ratings: Simplified
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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