BidaskClub upgraded shares of Okta (NASDAQ:OKTA) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other equities research analysts have also issued reports on OKTA. SunTrust Banks started coverage on Okta in a research report on Friday, October 27th. They set a buy rating and a $36.00 target price on the stock. Zacks Investment Research lowered Okta from a buy rating to a hold rating in a research report on Thursday, November 9th. KeyCorp reaffirmed a buy rating and set a $35.00 target price on shares of Okta in a research report on Friday, November 10th. Oppenheimer reaffirmed a buy rating and set a $34.00 target price on shares of Okta in a research report on Thursday, December 7th. Finally, FBN Securities started coverage on Okta in a research report on Monday, January 22nd. They set an outperform rating and a $35.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Okta presently has an average rating of Buy and a consensus target price of $33.25.

Shares of Okta (NASDAQ:OKTA) opened at $31.57 on Friday. The stock has a market capitalization of $3,210.00 and a price-to-earnings ratio of -27.45. Okta has a 52-week low of $21.52 and a 52-week high of $33.64.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, December 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. Okta had a negative return on equity of 169.65% and a negative net margin of 46.70%. equities research analysts predict that Okta will post -1.48 EPS for the current fiscal year.

In other news, CFO William E. Losch sold 2,600 shares of Okta stock in a transaction on Friday, November 17th. The stock was sold at an average price of $30.00, for a total transaction of $78,000.00. Following the transaction, the chief financial officer now owns 2,400 shares in the company, valued at $72,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ventures Iv L.P. Khosla sold 300,000 shares of Okta stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $25.49, for a total value of $7,647,000.00. The disclosure for this sale can be found here. Insiders have sold 845,527 shares of company stock worth $23,385,046 in the last quarter.

Several hedge funds have recently modified their holdings of the company. Champlain Investment Partners LLC grew its holdings in shares of Okta by 387.3% during the fourth quarter. Champlain Investment Partners LLC now owns 2,859,000 shares of the company’s stock valued at $73,219,000 after buying an additional 2,272,290 shares in the last quarter. Glynn Capital Management LLC grew its holdings in shares of Okta by 3,125.6% during the fourth quarter. Glynn Capital Management LLC now owns 2,343,268 shares of the company’s stock valued at $60,011,000 after buying an additional 2,270,623 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Okta by 24.4% during the fourth quarter. BlackRock Inc. now owns 1,577,619 shares of the company’s stock valued at $40,404,000 after buying an additional 309,147 shares in the last quarter. FMR LLC purchased a new position in shares of Okta during the second quarter valued at $23,135,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Okta by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock valued at $29,291,000 after buying an additional 51,761 shares in the last quarter. Institutional investors and hedge funds own 16.95% of the company’s stock.

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About Okta

Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.

Analyst Recommendations for Okta (NASDAQ:OKTA)

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