Unveiling 23 Analyst Insights On Okta

Benzinga · 10/17 13:01

In the preceding three months, 23 analysts have released ratings for Okta (NASDAQ:OKTA), presenting a wide array of perspectives from bullish to bearish.

The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 7 2 13 1 0
Last 30D 0 0 1 0 0
1M Ago 0 0 1 0 0
2M Ago 7 2 11 1 0
3M Ago 0 0 0 0 0

Analysts have recently evaluated Okta and provided 12-month price targets. The average target is $104.74, accompanied by a high estimate of $140.00 and a low estimate of $75.00. Observing a downward trend, the current average is 9.06% lower than the prior average price target of $115.17.

price target chart

Breaking Down Analyst Ratings: A Detailed Examination

The standing of Okta among financial experts is revealed through an in-depth exploration 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
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 adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Okta. This information provides a snapshot of how analysts perceive the current state of the company.
  • Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Okta compared to the broader market.
  • Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Okta's stock. This comparison reveals trends in analysts' expectations over time.

Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Okta's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.

Stay up to date on Okta analyst ratings.

Discovering Okta: A Closer Look

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: Financial Performance Dissected

Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.

Revenue Growth: Okta's revenue growth over a period of 3 months has been noteworthy. As of 31 July, 2024, the company achieved a revenue growth rate of approximately 16.19%. This indicates 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): Okta's ROE excels beyond industry benchmarks, reaching 0.48%. This signifies robust financial management and efficient use of shareholder equity capital.

Return on Assets (ROA): Okta's ROA stands out, surpassing industry averages. With an impressive ROA of 0.32%, the company demonstrates effective utilization of assets and strong financial performance.

Debt Management: With a below-average debt-to-equity ratio of 0.2, Okta adopts a prudent financial strategy, indicating a balanced approach to debt management.

What Are Analyst Ratings?

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically 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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This article was generated by Benzinga's automated content engine and reviewed by an editor.