Okta Inc. (NASDAQ: OKTA) stock fell -1.36% on Monday to $83.16 against a previous-day closing price of $84.31. With 2.35 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.36 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $83.80 whereas the lowest price it dropped to was $82.15. The 52-week range on OKTA shows that it touched its highest point at $91.50 and its lowest point at $44.12 during that stretch. It currently has a 1-year price target of $95.11. Beta for the stock currently stands at 0.99.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OKTA was down-trending over the past week, with a drop of -7.68%, but this was up by 17.61% over a month. Three-month performance surged to 9.78% while six-month performance fell -0.80%. The stock gained 32.97% in the past year, while it has gained 21.70% so far this year. A look at the trailing 12-month EPS for OKTA yields -3.69 with Next year EPS estimates of 1.48. For the next quarter, that number is 0.30. This implies an EPS growth rate of 10.00% for this year and 24.79% for next year. EPS is expected to grow by 25.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -31.30%.
Float and Shares Shorts:
At present, 162.75 million OKTA shares are outstanding with a float of 148.69 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.4 million, which was 3.29% higher than short shares on Jul 30, 2023. In addition to Mr. Todd McKinnon as the firm’s Co-Founder, Chairman & CEO, Mr. Brett Tighe serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 83.58% of OKTA’s outstanding shares, institutional investors have majority control over the company.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OKTA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With OKTA analysts setting a high price target of $120.00 and a low target of $64.00, the average target price over the next 12 months is $94.86. Based on these targets, OKTA could surge 44.3% to reach the target high and fall by -23.04% to reach the target low. Reaching the average price target will result in a growth of 14.07% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded OKTA stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 17,858 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 37,083 while 8,338 shares were sold.
