Okta (NASDAQ:OKTA) Price Target Raised to $135.00 at BMO Capital Markets

Okta (NASDAQ:OKTA) had its price target lifted by BMO Capital Markets from $130.00 to $135.00 in a report published on Wednesday, Marketbeat reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Truist Financial increased their price target on Okta from $92.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and raised their price target for the stock from $90.00 to $125.00 in a research note on Tuesday, March 4th. Jefferies Financial Group upped their price objective on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group raised their target price on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.94.

Okta Stock Performance

OKTA stock opened at $123.34 on Wednesday. The stock’s 50 day simple moving average is $107.36 and its 200 day simple moving average is $93.13. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta has a 12-month low of $70.56 and a 12-month high of $125.34. The stock has a market capitalization of $21.41 billion, a PE ratio of -352.40, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now owns 9,828 shares in the company, valued at $1,117,935. The trade was a 37.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock valued at $16,347,360 in the last ninety days. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently modified their holdings of OKTA. Bank of Jackson Hole Trust purchased a new stake in Okta in the fourth quarter worth $25,000. Wolff Wiese Magana LLC increased its stake in Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock worth $26,000 after buying an additional 154 shares during the period. Wayfinding Financial LLC bought a new stake in Okta during the 1st quarter valued at about $27,000. Harbour Investments Inc. lifted its holdings in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 157 shares in the last quarter. Finally, Rossby Financial LCC purchased a new stake in Okta in the 1st quarter valued at about $31,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Company Profile

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.