Breaking Down Okta: 11 Analysts Share Their Views
11 analysts have expressed a variety of opinions on Okta (NASDAQ:OKTA) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 4 | 4 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 3 | 3 | 0 | 0 |
| 2M Ago | 0 | 1 | 1 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts have recently evaluated Okta and provided 12-month price targets. The average target is $119.73, accompanied by a high estimate of $130.00 and a low estimate of $100.00. This current average has increased by 0.39% from the previous average price target of $119.27.
Decoding Analyst Ratings: A Detailed Look
In examining recent analyst actions, we gain insights into how financial experts perceive Okta. The following summary 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 |
|---|---|---|---|---|---|
| John Difucci | Guggenheim | Maintains | Buy | $130.00 | $130.00 |
| Matthew Hedberg | RBC Capital | Maintains | Outperform | $125.00 | $125.00 |
| Keith Bachman | BMO Capital | Lowers | Market Perform | $100.00 | $110.00 |
| Brian Essex | JP Morgan | Raises | Neutral | $110.00 | $105.00 |
| Roger Boyd | UBS | Lowers | Buy | $120.00 | $130.00 |
| Shyam Patil | Susquehanna | Lowers | Neutral | $110.00 | $115.00 |
| Peter Levine | Evercore ISI Group | Raises | Outperform | $122.00 | $102.00 |
| Alex Henderson | Needham | Maintains | Buy | $130.00 | $130.00 |
| Taz Koujalgi | Wedbush | Maintains | Outperform | $130.00 | $130.00 |
| Gregg Moskowitz | Mizuho | Raises | Neutral | $110.00 | $105.00 |
| Taz Koujalgi | Wedbush | Maintains | Outperform | $130.00 | $130.00 |
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: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Okta compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Okta's stock. This examination reveals shifts in analysts' expectations over time.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Okta's market standing. Stay informed and make well-considered decisions with our Ratings Table.
Stay up to date on Okta analyst ratings.
Unveiling the Story Behind Okta
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's Financial Performance
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Okta's revenue growth over a period of 3 months has been noteworthy. As of 30 April, 2024, the company achieved a revenue growth rate of approximately 19.11%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in 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 -6.48%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Okta's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -0.68%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Okta's ROA excels beyond industry benchmarks, reaching -0.45%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.21, Okta adopts a prudent financial strategy, indicating a balanced approach to debt management.
Analyst Ratings: What Are They?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.