Okta OKTA has been analyzed by 25 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
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 | 10 | 7 | 8 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 6 | 4 | 7 | 0 | 0 |
| 3M Ago | 4 | 3 | 0 | 0 | 0 |
Analysts have recently evaluated Okta and provided 12-month price targets. The average target is $88.28, accompanied by a high estimate of $110.00 and a low estimate of $70.00. This current average has decreased by 4.74% from the previous average price target of $92.67.
Breaking Down Analyst Ratings: A Detailed Examination
A comprehensive examination of how financial experts perceive Okta is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Brent Thill | Jefferies | Raises | Hold | $95.00 | $85.00 |
| Peter Levine | Evercore ISI Group | Lowers | In-Line | $70.00 | $75.00 |
| Adam Borg | Stifel | Lowers | Buy | $85.00 | $100.00 |
| Joel Fishbein | Truist Securities | Lowers | Hold | $70.00 | $75.00 |
| Gregg Moskowitz | Mizuho | Lowers | Buy | $80.00 | $85.00 |
| Ittai Kidron | Oppenheimer | Maintains | Outperform | $110.00 | - |
| Keith Bachman | BMO Capital | Lowers | Market Perform | $80.00 | $90.00 |
| Matthew Hedberg | RBC Capital | Lowers | Outperform | $95.00 | $100.00 |
| Simeon Gutman | Morgan Stanley | Lowers | Equal-Weight | $80.00 | $85.00 |
| Taz Koujalgi | Wedbush | Maintains | Outperform | $90.00 | - |
| Shaul Eyal | TD Cowen | Lowers | Market Perform | $74.00 | $100.00 |
| Andrew Nowinski | Wells Fargo | Lowers | Equal-Weight | $70.00 | $80.00 |
| Alex Henderson | Needham | Maintains | Buy | $100.00 | - |
| Adam Borg | Stifel | Maintains | Buy | $100.00 | - |
| Alex Henderson | Needham | Maintains | Buy | $100.00 | - |
| Adam Borg | Stifel | Maintains | Buy | $100.00 | - |
| Andrew Nowinski | Wells Fargo | Lowers | Overweight | $80.00 | $95.00 |
| Brian Essex | JP Morgan | Lowers | Neutral | $74.00 | $85.00 |
| Gabriela Borges | Goldman Sachs | Lowers | Buy | $88.00 | $100.00 |
| Gabriela Borges | Goldman Sachs | Lowers | Buy | $88.00 | $100.00 |
| Shigemichi Yoshizu | Daiwa Capital | Announces | Buy | $87.00 | - |
| Joseph Gallo | Jefferies | Lowers | Buy | $95.00 | $105.00 |
| Rob Owens | Piper Sandler | Lowers | Overweight | $95.00 | $100.00 |
| Michael Turits | Keybanc | Lowers | Overweight | $95.00 | $106.00 |
| Michael Turits | Keybanc | Raises | Overweight | $106.00 | $102.00 |
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: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' 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.
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.
Understanding the Numbers: Okta's Finances
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Positive Revenue Trend: Examining Okta's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 21.41% as of 31 October, 2023, showcasing a substantial increase in 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: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -13.87%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -1.42%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -0.93%, the company showcases effective utilization of assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.25.
The Significance of Analyst Ratings Explained
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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