Okta, Inc. (OKTA) Shares Gap Down to $28.01
Okta, Inc. (NASDAQ:OKTA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $29.62, but opened at $28.01. Okta shares last traded at $27.04, with a volume of 7,341,470 shares changing hands.
Several equities analysts have recently issued reports on OKTA shares. Zacks Investment Research upgraded Okta from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday, September 14th. William Blair started coverage on Okta in a research report on Wednesday. They set an “outperform” rating on the stock. Canaccord Genuity reiterated a “hold” rating and set a $27.00 price target on shares of Okta in a research report on Wednesday, August 30th. KeyCorp restated a “buy” rating and issued a $35.00 target price on shares of Okta in a report on Friday, September 8th. Finally, Pacific Crest restated an “outperform” rating and issued a $32.00 target price on shares of Okta in a report on Monday, June 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $32.20.
The company’s market cap is $534.52 million. The stock has a 50-day moving average price of $27.50 and a 200 day moving average price of $24.95.
Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, September 7th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The business had revenue of $61.00 million for the quarter, compared to the consensus estimate of $55.90 million. Okta’s revenue was up 63.1% on a year-over-year basis. On average, equities analysts anticipate that Okta, Inc. will post ($0.96) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of OKTA. Peregrine Capital Management LLC bought a new stake in shares of Okta during the 2nd quarter valued at $6,909,000. Spark Investment Management LLC bought a new stake in shares of Okta in the 2nd quarter valued at $3,841,000. Essex Investment Management Co. LLC bought a new stake in shares of Okta in the 2nd quarter valued at $2,321,000. Hillman Co. bought a new stake in shares of Okta in the 2nd quarter valued at $6,975,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Okta in the 2nd quarter valued at $23,054,000. Institutional investors own 15.03% of the company’s stock.
Okta Company Profile
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.
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