Okta (NASDAQ:OKTA) Stock Rating Reaffirmed by Royal Bank of Canada (2024)

Royal Bank of Canada reissued their outperform rating on shares of Okta (NASDAQ:OKTA – Free Report) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $125.00 target price on the stock.

A number of other research analysts have also issued reports on OKTA. Needham & Company LLC restated a buy rating and set a $130.00 target price on shares of Okta in a research report on Thursday, May 30th. Truist Financial reiterated a hold rating and set a $105.00 price objective (up from $85.00) on shares of Okta in a report on Thursday, February 29th. Evercore ISI upgraded shares of Okta from an in-line rating to an outperform rating and boosted their price target for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. Mizuho boosted their price target on shares of Okta from $105.00 to $110.00 and gave the company a neutral rating in a research report on Friday, May 17th. Finally, Robert W. Baird upped their target price on shares of Okta from $90.00 to $108.00 and gave the stock an outperform rating in a report on Thursday, February 29th. Nineteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Okta has an average rating of Hold and a consensus price target of $104.48.

Read Our Latest Report on Okta

Okta Stock Up 0.0 %

Okta stock opened at $89.78 on Monday. The stock has a market cap of $15.10 billion, a P/E ratio of -53.76 and a beta of 1.03. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. Okta has a twelve month low of $65.04 and a twelve month high of $114.50. The company’s 50-day moving average price is $95.00 and its two-hundred day moving average price is $91.83.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 18,878 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.00% of the stock is owned by company insiders.

Institutional Trading of Okta

A number of institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise boosted its holdings in shares of Okta by 4.3% in the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after buying an additional 122 shares during the last quarter. Venturi Wealth Management LLC increased its position in Okta by 50.4% in the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after purchasing an additional 131 shares during the last quarter. Blue Zone Wealth Advisors LLC boosted its stake in Okta by 2.7% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 5,142 shares of the company’s stock worth $466,000 after buying an additional 134 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Okta by 7.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company’s stock worth $174,000 after buying an additional 138 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

About Okta

(Get Free Report)

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

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