Okta Inc (OKTA): A Case For Going Higher

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Most recently, Yahoo Finance reported about the stock as it publicized that Okta to Announce Fourth Quarter and Fiscal Year 2024 Financial Results on February 28, 2024.

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Stocks Info

Okta Inc is listed on the NASDAQ in the Technology sector while operating in the Software – Infrastructure industry. The current market capitalization of Okta Inc is $14.53B. A total of 1.82 million shares were traded on the day, compared to an average of 0.79 shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, OKTA has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 26 BUYs and 19 SELLs from insiders. Insiders purchased 35,424 shares during that period but sold 11,996.

In the most recent transaction, Schwartz Larissa sold 872 shares of OKTA for 82.83 per share on Jan 16. After the transaction, the insider now owns 22,125 company shares. In a previous transaction on Dec 18, McKinnon Todd sold 7,449 shares at 83.33 per share. OKTA shares that Chief Executive Officer owns now total 43,006.

Among the insiders who sold shares, Tighe Brett disposed of 4,816 shares on Dec 18 at a per-share price of $83.33. This resulted in the Chief Financial Officer holding 63,565 shares of OKTA after the transaction. In another insider transaction, Schwartz Larissa sold 2,675 shares at $83.33 per share on Dec 18. Company shares held by the insider now total 20,440.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for OKTA in the last 3 months, the mean price target is $87.58 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 $92.38 and a low of $65.04.

As of this writing, OKTA has an earnings estimate of $0.51 per share for the current quarter. EPS was calculated based on a consensus of 36 estimates, with a high estimate of $0.52 per share and a lower estimate of $0.49. The company reported an EPS of $0.31 in the last quarter, which was 40.90% higher than expectations of $0.22.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future 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 $2.03B in debt and $1.24B in liabilities at the time. Its Book Value Per Share was $34.66, while its Total Shareholder’s Equity was $5.92B.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. 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 3.61.

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