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Tuesday, December 5, 2023

Are Things Looking Up For Okta Inc (NASDAQ: OKTA)?

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Okta Inc (OKTA) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.32, or 0.47%, to $68.55. The Okta Inc has recorded 43,726 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Okta to Announce Third Quarter Fiscal Year 2024 Financial Results on November 29, 2023.

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Stocks Info

The company is listed on the NASDAQ and operates within the Software – Infrastructure industry segment. At the end of the last regular session, the stock closed at $68.23 and fluctuated between $69.11 as its day high and $66.99 as its day low. The current market capitalization of Okta Inc is $11.19B. A total of 1.6 million shares were traded on the day, compared to an average of 2.68M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, OKTA has seen 3 BUY and 2 SELL insider trades, representing the acquisition of 10,552 and the disposition of 3,282 shares. Over the last 12 months, there were 32 BUYs and 24 SELLs from insiders. Insiders purchased 46,423 shares during that period but sold 11,620.

In the most recent transaction, Schwartz Larissa sold 2,334 shares of OKTA for 70.00 per share on Nov 06. After the transaction, the insider now owns 21,477 company shares. In a previous transaction on Oct 13, Schwartz Larissa sold 3,578 shares at 85.03 per share. OKTA shares that the insider owns now total 23,811.

Among the insiders who sold shares, McKinnon Todd disposed of 7,471 shares on Sep 18 at a per-share price of $83.01. This resulted in the Chief Executive Officer holding 35,641 shares of OKTA after the transaction. In another insider transaction, Tighe Brett sold 4,846 shares at $83.01 per share on Sep 18. Company shares held by the Chief Financial Officer now total 56,613.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for OKTA in the last 3 months, the mean price target is $92.45 with high estimates of $120.00 and low estimates of $64.00. In terms of 52-week highs and lows, OKTA has a high of $91.50 and a low of $46.78.

As of this writing, OKTA has an earnings estimate of $0.3 per share for the current quarter. EPS was calculated based on a consensus of 34 estimates, with a high estimate of $0.38 per share and a lower estimate of $0.28. The company reported an EPS of $0.22 in the last quarter, which was 69.20% higher than expectations of $0.13.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information. OKTA’s latest balance sheet shows that the firm has $2.50B in Cash & Short Term Investments as of fiscal 2022. There were $2.00B in debt and $1.24B in liabilities at the time. Its Book Value Per Share was $34.38, while its Total Shareholder’s Equity was $5.92B.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for OKTA is Buy with a score of 4.11.

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