In the preceding three months, 23 analysts have released ratings for Okta OKTA, presenting a wide array of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 7 | 2 | 13 | 1 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 1 | 0 | 0 |
| 2M Ago | 7 | 2 | 11 | 1 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts have recently evaluated Okta and provided 12-month price targets. The average target is $104.74, accompanied by a high estimate of $140.00 and a low estimate of $75.00. Observing a downward trend, the current average is 9.06% lower than the prior average price target of $115.17.
Breaking Down Analyst Ratings: A Detailed Examination
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 |
|---|---|---|---|---|---|
| Rob Owens | Piper Sandler | Lowers | Neutral | $85.00 | $100.00 |
| 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: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Okta. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Okta compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Okta's stock. This comparison reveals trends in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Okta's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Okta analyst ratings.
Discovering Okta: A Closer Look
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.
Okta: Financial Performance Dissected
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Okta's revenue growth over a period of 3 months has been noteworthy. As of 31 July, 2024, the company achieved a revenue growth rate of approximately 16.19%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Okta's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 4.49%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Okta's ROE excels beyond industry benchmarks, reaching 0.48%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Okta's ROA stands out, surpassing industry averages. With an impressive ROA of 0.32%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.2, Okta adopts a prudent financial strategy, indicating a balanced approach to debt management.
What Are Analyst Ratings?
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically 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.
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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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