OKTA (Okta Inc.): Time to Pay Attention?

After finishing at $67.67 in the prior trading day, Okta Inc. (NASDAQ: OKTA) closed at $68.70, up 1.52%. In other words, the price has increased by $+1.03 from its previous closing price. On the day, 2159152 shares were traded. OKTA stock price reached its highest trading level at $69.02 during the session, while it also had its lowest trading level at $66.92.

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Our goal is to gain a better understanding of OKTA by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 4.38 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 1464.80. For the most recent quarter (mrq), Quick Ratio is recorded 2.30 and its Current Ratio is at 2.30. In the meantime, Its Debt-to-Equity ratio is 0.41 whereas as Long-Term Debt/Eq ratio is at 0.41.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, SMBC Nikko on January 04, 2023, initiated with a Outperform rating and assigned the stock a target price of $90.

On December 15, 2022, Wedbush started tracking the stock assigning a Outperform rating and target price of $86.

On December 13, 2022, Cowen started tracking the stock assigning a Market Perform rating and target price of $70.Cowen initiated its Market Perform rating on December 13, 2022, with a $70 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jan 17 when Runyan Jonathan T sold 10 shares for $69.77 per share. The transaction valued at 698 led to the insider holds 72,210 shares of the business.

Runyan Jonathan T sold 3,022 shares of OKTA for $203,722 on Dec 16. The General Counsel and Secretary now owns 465 shares after completing the transaction at $67.41 per share. On Dec 16, another insider, Tighe Brett, who serves as the Chief Financial Officer of the company, sold 2,643 shares for $67.41 each. As a result, the insider received 178,172 and left with 39,472 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 6.26 while its Price-to-Book (P/B) ratio in mrq is 2.02.

Stock Price History:

Over the past 52 weeks, OKTA has reached a high of $210.41, while it has fallen to a 52-week low of $44.12. The 50-Day Moving Average of the stock is 61.69, while the 200-Day Moving Average is calculated to be 81.89.

Shares Statistics:

The stock has traded on average 3.89M shares per day over the past 3-months and 2.9M shares per day over the last 10 days, according to various share statistics. A total of 158.71M shares are outstanding, with a floating share count of 151.76M. Insiders hold about 0.20% of the company’s shares, while institutions hold 81.50% stake in the company. Shares short for OKTA as of Oct 13, 2022 were 7.24M with a Short Ratio of 5.91M, compared to 6.58M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.56% and a Short% of Float of 4.80%.

Earnings Estimates

Its stock is currently analyzed by 28 different market analysts. On average, analysts expect EPS of -$0.24 for the current quarter, with a high estimate of -$0.13 and a low estimate of -$0.28, while EPS last year was -$0.07. The consensus estimate for the next quarter is -$0.12, with high estimates of -$0.09 and low estimates of -$0.27.

Analysts are recommending an EPS of between -$0.62 and -$0.93 for the fiscal current year, implying an average EPS of -$0.72. EPS for the following year is -$0.32, with 30 analysts recommending between $0.31 and -$0.74.

Revenue Estimates

A total of 34 analysts have provided revenue estimates for OKTA’s current fiscal year. The highest revenue estimate was $1.88B, while the lowest revenue estimate was $1.81B, resulting in an average revenue estimate of $1.82B. In the same quarter a year ago, actual revenue was $1.3B, up 40.00% from the average estimate. Based on 33 analysts’ estimates, the company’s revenue will be $2.33B in the next fiscal year. The high estimate is $2.66B and the low estimate is $2.22B. The average revenue growth estimate for next year is up 28.20% from the average revenue estimate for this year.