Okta (NASDAQ:OKTA) Receives New Coverage from Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Okta (NASDAQ:OKTA) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the stock.

A number of other equities analysts also recently commented on OKTA. Royal Bank of Canada restated a “buy” rating and set a $255.00 price objective on shares of Okta in a research note on Sunday, November 29th. Morgan Stanley upped their target price on shares of Okta from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Friday, January 8th. The Goldman Sachs Group boosted their price target on Okta from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, December 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of Okta in a research report on Thursday, February 11th. Finally, DA Davidson lifted their target price on Okta from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, December 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $248.05.

Okta stock opened at $274.47 on Tuesday. The firm has a 50-day moving average of $267.94 and a 200-day moving average of $236.86. Okta has a one year low of $88.66 and a one year high of $294.00. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.80 and a quick ratio of 4.80. The company has a market cap of $35.53 billion, a price-to-earnings ratio of -142.21 and a beta of 0.99.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 1st. The company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The company had revenue of $217.40 million during the quarter, compared to the consensus estimate of $203.15 million. During the same period in the prior year, the business posted ($0.07) EPS. The company’s quarterly revenue was up 42.1% on a year-over-year basis. As a group, sell-side analysts expect that Okta will post -1.31 earnings per share for the current year.

In other news, CFO William E. Losch sold 2,202 shares of the company’s stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $258.91, for a total transaction of $570,119.82. Following the completion of the sale, the chief financial officer now directly owns 30,974 shares in the company, valued at approximately $8,019,478.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charles Race sold 50,000 shares of the company’s stock in a transaction on Thursday, December 10th. The shares were sold at an average price of $238.21, for a total value of $11,910,500.00. Following the sale, the insider now owns 79,786 shares of the company’s stock, valued at $19,005,823.06. The disclosure for this sale can be found here. Insiders sold a total of 246,650 shares of company stock valued at $61,793,057 over the last 90 days. 12.02% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in OKTA. Black Swift Group LLC bought a new stake in shares of Okta during the 4th quarter valued at $25,000. Addison Advisors LLC bought a new stake in shares of Okta during the 4th quarter valued at $25,000. Avion Wealth bought a new stake in shares of Okta during the 3rd quarter valued at $27,000. Eudaimonia Partners LLC acquired a new position in shares of Okta during the 3rd quarter worth $28,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Okta during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Okta Company Profile

Okta, Inc provides identity management platforms 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; and 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.

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