Okta OKTA has been analyzed by 10 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 3 | 3 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 2 | 3 | 3 | 0 | 0 |
Analysts have recently evaluated Okta and provided 12-month price targets. The average target is $121.7, accompanied by a high estimate of $140.00 and a low estimate of $100.00. No alteration is observed as the current average remains at the previous average price target.
Decoding Analyst Ratings: A Detailed Look
The standing of Okta among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Casey Ryan | WestPark Capital | Maintains | Buy | $140.00 | $140.00 |
| John Difucci | Guggenheim | Maintains | Buy | $130.00 | $130.00 |
| Matthew Hedberg | RBC Capital | Maintains | Outperform | $125.00 | $125.00 |
| 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 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Okta. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Okta compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of Okta's stock. This comparison reveals trends in analysts' expectations over time.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Okta's market standing. Stay informed and make well-considered decisions with our Ratings Table.
Stay up to date on Okta analyst ratings.
All You Need to Know 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.
A Deep Dive into Okta's Financials
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.
Revenue Growth: Okta displayed positive results in 3 months. As of 30 April, 2024, the company achieved a solid revenue growth rate of approximately 19.11%. This indicates a notable increase in the company's 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): Okta's ROE stands out, surpassing industry averages. With an impressive ROE of -0.68%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -0.45%, the company showcases effective utilization of assets.
Debt Management: Okta's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.21.
Understanding the Relevance of Analyst Ratings
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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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