In the latest quarter, 34 analysts provided ratings for Okta OKTA, showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 9 | 4 | 20 | 1 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 2 | 2 | 7 | 0 | 0 |
| 2M Ago | 0 | 0 | 1 | 0 | 0 |
| 3M Ago | 7 | 2 | 11 | 1 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $99.59, along with a high estimate of $140.00 and a low estimate of $75.00. Observing a downward trend, the current average is 10.87% lower than the prior average price target of $111.74.
Understanding Analyst Ratings: A Comprehensive Breakdown
An in-depth analysis of recent analyst actions unveils 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 |
|---|---|---|---|---|---|
| Brad Zelnick | Deutsche Bank | Lowers | Hold | $85.00 | $115.00 |
| 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: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Okta. This offers insight into analysts' perspectives on 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: 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.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Okta's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Okta analyst ratings.
Delving into Okta's Background
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 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. 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: 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 ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.48% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Okta's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.32%, the company showcases efficient use of assets and strong financial health.
Debt Management: Okta's debt-to-equity ratio is below the industry average. With a ratio of 0.2, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Core of Analyst Ratings: What Every Investor Should Know
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
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