During the last three months, 32 analysts shared their evaluations of Okta OKTA, revealing diverse outlooks from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 6 | 9 | 17 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 1 | 1 | 0 | 0 |
| 2M Ago | 5 | 8 | 13 | 0 | 0 |
| 3M Ago | 1 | 0 | 2 | 0 | 0 |
Analysts have set 12-month price targets for Okta, revealing an average target of $102.41, a high estimate of $140.00, and a low estimate of $81.00. Surpassing the previous average price target of $99.41, the current average has increased by 3.02%.
Breaking Down Analyst Ratings: A Detailed Examination
The standing of Okta among financial experts becomes clear 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 |
|---|---|---|---|---|---|
| Fatima Boolani | Citigroup | Raises | Neutral | $100.00 | $95.00 |
| Joseph Gallo | Jefferies | Lowers | Hold | $90.00 | $100.00 |
| Eric Heath | Keybanc | Announces | Overweight | $115.00 | - |
| Peter Weed | Bernstein | Lowers | Outperform | $124.00 | $129.00 |
| Shrenik Kothari | Baird | Raises | Outperform | $115.00 | $105.00 |
| Brian Essex | JP Morgan | Announces | Overweight | $100.00 | - |
| Andrew Nowinski | Wells Fargo | Raises | Equal-Weight | $95.00 | $80.00 |
| Peter Weed | Bernstein | Raises | Outperform | $129.00 | $123.00 |
| Matthew Hedberg | RBC Capital | Maintains | Outperform | $101.00 | $101.00 |
| Fatima Boolani | Citigroup | Raises | Neutral | $95.00 | $90.00 |
| Rudy Kessinger | DA Davidson | Raises | Neutral | $90.00 | $75.00 |
| Patrick Colville | Scotiabank | Raises | Sector Perform | $96.00 | $92.00 |
| Kingsley Crane | Canaccord Genuity | Raises | Hold | $94.00 | $82.00 |
| Gabriela Borges | Goldman Sachs | Raises | Buy | $107.00 | $97.00 |
| Keith Bachman | BMO Capital | Raises | Market Perform | $105.00 | $103.00 |
| Rob Owens | Piper Sandler | Raises | Neutral | $90.00 | $85.00 |
| John Difucci | Guggenheim | Maintains | Buy | $130.00 | $130.00 |
| Joel Fishbein | Truist Securities | Raises | Hold | $92.00 | $80.00 |
| Shyam Patil | Susquehanna | Raises | Neutral | $95.00 | $85.00 |
| Adam Borg | Stifel | Raises | Buy | $115.00 | $108.00 |
| Simeon Gutman | Morgan Stanley | Raises | Overweight | $106.00 | $97.00 |
| Shrenik Kothari | Baird | Raises | Outperform | $105.00 | $95.00 |
| Casey Ryan | WestPark Capital | Maintains | Buy | $140.00 | $140.00 |
| Mike Cikos | Needham | Raises | Buy | $115.00 | $100.00 |
| Saket Kalia | Barclays | Raises | Equal-Weight | $96.00 | $81.00 |
| Joseph Gallo | Jefferies | Raises | Hold | $100.00 | $85.00 |
| Simeon Gutman | Morgan Stanley | Raises | Overweight | $97.00 | $92.00 |
| Brian Essex | JP Morgan | Lowers | Neutral | $85.00 | $105.00 |
| Saket Kalia | Barclays | Announces | Equal-Weight | $81.00 | - |
| 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 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Okta. This insight gives a snapshot of analysts' perspectives on 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 predict movements in price targets, offering estimates for Okta's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
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.
Get to Know Okta Better
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's Financial Performance
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in 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 13.87% as of 31 October, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Okta's net margin is impressive, surpassing industry averages. With a net margin of 2.41%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Okta's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 0.26%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.18%, 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 0.15.
The Significance of Analyst Ratings Explained
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and 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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