Across the recent three months, 33 analysts have shared their insights on Okta OKTA, expressing a variety of opinions spanning 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 | 9 | 4 | 19 | 1 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 2 | 2 | 6 | 0 | 0 |
| 2M Ago | 0 | 0 | 2 | 0 | 0 |
| 3M Ago | 7 | 2 | 10 | 1 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $100.03, with a high estimate of $140.00 and a low estimate of $75.00. Observing a downward trend, the current average is 10.4% lower than the prior average price target of $111.64.
Decoding Analyst Ratings: A Detailed Look
The analysis of recent analyst actions sheds light on the perception of Okta by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Simeon Gutman | Morgan Stanley | Lowers | Equal-Weight | $92.00 | $100.00 |
| Gabriela Borges | Goldman Sachs | Lowers | Buy | $97.00 | $113.00 |
| Shrenik Kothari | Baird | Lowers | Outperform | $95.00 | $105.00 |
| Kingsley Crane | Canaccord Genuity | Lowers | Hold | $82.00 | $90.00 |
| Rudy Kessinger | DA Davidson | Lowers | Neutral | $75.00 | $85.00 |
| Gray Powell | BTIG | Lowers | Buy | $98.00 | $128.00 |
| Andrew Nowinski | Wells Fargo | Lowers | Equal-Weight | $80.00 | $90.00 |
| Joel Fishbein | Truist Securities | Lowers | Hold | $80.00 | $95.00 |
| Gregg Moskowitz | Mizuho | Lowers | Neutral | $92.00 | $104.00 |
| Matthew Hedberg | RBC Capital | Lowers | Outperform | $101.00 | $125.00 |
| 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 respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Okta. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Okta compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Okta's stock. This analysis reveals shifts 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.
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.
Financial Milestones: Okta's Journey
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Positive Revenue Trend: Examining Okta's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 16.19% as of 31 July, 2024, showcasing a substantial increase in 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 net margin excels beyond industry benchmarks, reaching 4.49%. This signifies efficient cost management and strong financial health.
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 excels beyond industry benchmarks, reaching 0.32%. 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 0.2.
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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