Evercore ISI raised the price target for the Okta Inc (NASDAQ:OKTA) stock from “an In-line” to “an Outperform”. The rating was released on May 30, 2024, according to finviz. The research report from Mizuho has downgraded the stock from Buy to Neutral, with a price target set at $85. The stock was downgraded by Jefferies, who disclosed in a research note on January 05, 2024, from Buy to Hold and set the price objective to $95. In their research brief published December 15, 2023, Susquehanna analysts initiated the Okta Inc stock to Neutral with a price target of $75.
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The latest trade, Performances and Moving Averages give us the following Picture
The firm’s stock price fluctuated 0.10% within the last five trades and 7.93% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 14.77% in the last 6 months and -6.31% was subtracted to its value over the previous 3 months. OKTA stock is trading at a margin of 4.48%, 1.10% and 8.02% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, OKTA deals in the Technology domain. The stock is trading -17.34 percent below its 52-week high and 45.51 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 19. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Okta Inc’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at -14.99 percent and the profit margin is -11.69 percent, and the company has reported a gross margin of 75.15 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $15.92 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 34.33. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 6.74 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 2.67, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 5.88 percent of Okta Inc shares are owned by insiders, and 80.15 percent are held by financial institutions. Kerrest Jacques Frederic, the Director at Okta Inc (OKTA) has sold 34,620 shares of firm on Jul 05 ’24 at a price of $96.04 against the total amount of $3.33 million. In another inside trade, Kerrest Jacques Frederic, Director of Okta Inc (NASDAQ:OKTA) sold 3,280 shares of the firm on Jul 02 ’24 for a total worth of $0.31 million at a price of $95.64. An inside trade which took place on Jun 28 ’24, Director of Okta Inc Kerrest Jacques Frederic sold 2,100 shares of firm against total price of $0.2 million at the cost of $95.12 per share.
