Okta (OKTA) Downgraded to Sell at BidaskClub
Okta (NASDAQ:OKTA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.
A number of other equities analysts have also commented on OKTA. KeyCorp reaffirmed a “buy” rating on shares of Okta in a research note on Friday, September 1st. Zacks Investment Research raised shares of Okta from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Wednesday, September 20th. Oppenheimer reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Okta in a research note on Thursday, December 7th. Canaccord Genuity raised their price objective on shares of Okta from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, September 8th. Finally, William Blair assumed coverage on shares of Okta in a research note on Wednesday, October 4th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $33.00.
Okta (OKTA) opened at $25.40 on Thursday. Okta has a 52 week low of $21.52 and a 52 week high of $33.64.
Large investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in shares of Okta during the 2nd quarter valued at $101,000. SG Americas Securities LLC acquired a new stake in shares of Okta in the 3rd quarter valued at $128,000. Paulson & CO. Inc. acquired a new stake in shares of Okta in the 2nd quarter valued at $171,000. CI Investments Inc. acquired a new stake in shares of Okta in the 2nd quarter valued at $171,000. Finally, American Century Companies Inc. acquired a new stake in shares of Okta in the 2nd quarter valued at $201,000. 14.30% of the stock is owned by institutional investors.
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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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