Across the recent three months, 22 analysts have shared their insights on Okta OKTA, expressing a variety of opinions spanning from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 7 | 2 | 12 | 1 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 6 | 2 | 11 | 1 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $105.64, a high estimate of $140.00, and a low estimate of $75.00. A 8.82% drop is evident in the current average compared to the previous average price target of $115.86.
Diving into Analyst Ratings: An In-Depth Exploration
In examining recent analyst actions, we gain insights into how financial experts perceive Okta. The following summary 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 |
|---|---|---|---|---|---|
| Joseph Gallo | Jefferies | Lowers | Hold | $85.00 | $100.00 |
| Shyam Patil | Susquehanna | Lowers | Neutral | $85.00 | $110.00 |
| Fatima Boolani | Citigroup | Lowers | Neutral | $110.00 | $115.00 |
| Joseph Gallo | Jefferies | Lowers | Hold | $100.00 | $110.00 |
| Richard Davis | Canaccord Genuity | Lowers | Hold | $90.00 | $95.00 |
| Adam Borg | Stifel | Lowers | Buy | $108.00 | $122.00 |
| Rudy Kessinger | DA Davidson | Lowers | Neutral | $85.00 | $100.00 |
| Keith Bachman | BMO Capital | Raises | Market Perform | $103.00 | $100.00 |
| Brian Essex | JP Morgan | Lowers | Neutral | $105.00 | $110.00 |
| Rob Owens | Piper Sandler | Lowers | Neutral | $100.00 | $110.00 |
| Matthew Hedberg | RBC Capital | Maintains | Outperform | $125.00 | $125.00 |
| Gabriela Borges | Goldman Sachs | Lowers | Buy | $113.00 | $130.00 |
| Joel Fishbein | Truist Securities | Lowers | Hold | $95.00 | $105.00 |
| Patrick Colville | Scotiabank | Lowers | Sector Perform | $92.00 | $104.00 |
| Casey Ryan | WestPark Capital | Maintains | Buy | $140.00 | $140.00 |
| Roger Boyd | UBS | Lowers | Buy | $108.00 | $120.00 |
| Andrew Nowinski | Wells Fargo | Lowers | Equal-Weight | $90.00 | $100.00 |
| Madeline Brooks | B of A Securities | Lowers | Underperform | $75.00 | $135.00 |
| Shrenik Kothari | Baird | Lowers | Outperform | $105.00 | $108.00 |
| Alex Henderson | Needham | Maintains | Buy | $130.00 | $130.00 |
| Casey Ryan | WestPark Capital | Maintains | Buy | $140.00 | $140.00 |
| Casey Ryan | WestPark Capital | Maintains | Buy | $140.00 | $140.00 |
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: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Okta compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Okta's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
To gain a panoramic view of Okta's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using 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 Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Revenue Growth: Okta's remarkable performance in 3 months is evident. As of 31 July, 2024, the company achieved an impressive revenue growth rate of 16.19%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Okta's net margin is impressive, surpassing industry averages. With a net margin of 4.49%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Okta's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 0.48%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Okta's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.32% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Okta's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.2.
Understanding the Relevance of Analyst Ratings
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.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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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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