Okta (NASDAQ:OKTA) had its price objective boosted by analysts at Robert W. Baird from $135.00 to $185.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential downside of 3.89% from the company’s current price.

Several other equities analysts have also issued reports on OKTA. BMO Capital Markets raised Okta from a “market perform” rating to an “outperform” rating and upped their target price for the company from $150.00 to $155.00 in a report on Sunday, April 12th. JPMorgan Chase & Co. upped their target price on Okta from $151.00 to $154.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Citigroup increased their price objective on Okta from $150.00 to $162.00 and gave the company a “buy” rating in a report on Friday, March 6th. Oppenheimer increased their price objective on Okta from $120.00 to $130.00 in a report on Thursday, April 2nd. Finally, Piper Sandler increased their price objective on Okta from $140.00 to $145.00 in a report on Friday, March 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Okta presently has an average rating of “Buy” and a consensus price target of $149.84.

Shares of OKTA stock traded up $4.75 during trading on Thursday, hitting $192.49. The company’s stock had a trading volume of 1,285,614 shares, compared to its average volume of 1,529,391. The company has a market cap of $23.05 billion, a PE ratio of -108.14 and a beta of 0.99. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 2.45. The business has a fifty day moving average of $152.09 and a 200-day moving average of $130.15. Okta has a 52 week low of $88.66 and a 52 week high of $192.95.

Okta (NASDAQ:OKTA) last released its earnings results on Thursday, March 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $167.33 million during the quarter, compared to analyst estimates of $155.83 million. Okta had a negative return on equity of 50.48% and a negative net margin of 35.65%. Okta’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. As a group, research analysts predict that Okta will post -1.64 EPS for the current year.

In related news, CFO William E. Losch sold 30,000 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $133.21, for a total value of $3,996,300.00. Following the sale, the chief financial officer now owns 46,726 shares in the company, valued at $6,224,370.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher K. Kramer sold 1,730 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $138.24, for a total value of $239,155.20. Following the completion of the sale, the chief accounting officer now owns 7,948 shares in the company, valued at approximately $1,098,731.52. The disclosure for this sale can be found here. Insiders sold 347,486 shares of company stock worth $47,993,602 in the last quarter. 12.02% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. raised its position in Okta by 2.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 52,405 shares of the company’s stock valued at $6,046,000 after purchasing an additional 1,006 shares in the last quarter. Cetera Advisor Networks LLC purchased a new stake in Okta during the fourth quarter valued at about $205,000. First American Bank purchased a new stake in Okta during the fourth quarter valued at about $361,000. Nisa Investment Advisors LLC raised its position in Okta by 111.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 950 shares of the company’s stock valued at $110,000 after purchasing an additional 500 shares in the last quarter. Finally, BlackRock Inc. raised its position in Okta by 0.3% during the first quarter. BlackRock Inc. now owns 7,688,692 shares of the company’s stock valued at $940,021,000 after purchasing an additional 22,883 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Okta

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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