32 analysts have expressed a variety of opinions on Okta OKTA over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting 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 | 18 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 2 | 7 | 0 | 0 |
| 2M Ago | 7 | 2 | 11 | 1 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $100.28, a high estimate of $140.00, and a low estimate of $75.00. This current average has decreased by 10.46% from the previous average price target of $112.00.
Deciphering Analyst Ratings: An In-Depth Analysis
A clear picture of Okta's perception among financial experts is painted with a thorough analysis 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 |
|---|---|---|---|---|---|
| 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: Analysts predict movements in price targets, offering estimates for Okta's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Okta's market standing. Stay informed and make well-considered decisions with our Ratings Table.
Stay up to date on Okta analyst ratings.
All You Need to Know 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.
Financial Milestones: Okta's Journey
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Over the 3 months period, Okta showcased positive performance, achieving a revenue growth rate of 16.19% as of 31 July, 2024. This reflects 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): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 0.48%, the company showcases effective utilization of 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.
What Are Analyst Ratings?
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.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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