While Okta Inc has overperformed by 0.33%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, OKTA rose by 2.67%, with highs and lows ranging from $114.50 to $70.56, whereas the simple moving average fell by -2.53% in the last 200 days.
On December 19, 2024, KeyBanc Capital Markets Upgraded Okta Inc (NASDAQ: OKTA) to Overweight. A report published by JP Morgan on December 16, 2024, Upgraded its rating to ‘Overweight’ for OKTA. Bernstein also Upgraded OKTA shares as ‘Outperform’, setting a target price of $129 on the company’s shares in a report dated December 05, 2024. Susquehanna Reiterated the rating as Neutral on December 04, 2024, but set its price target from $85 to $95. Stifel resumed its ‘Buy’ rating for OKTA, as published in its report on December 04, 2024. Robert W. Baird’s report from December 04, 2024 suggests a price prediction of $105 for OKTA shares, giving the stock a ‘Outperform’ rating. Piper Sandler also rated the stock as ‘Neutral’.
Analysis of Okta Inc (OKTA)
Further, the quarter-over-quarter increase in sales is 13.87%, showing a positive trend in the upcoming months.
Okta Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -0.65% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.29, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and OKTA has an average volume of 2.98M. On a monthly basis, the volatility of the stock is set at 3.15%, whereas on a weekly basis, it is put at 3.44%, with a gain of 6.30% over the past seven days. Furthermore, long-term investors anticipate a median target price of $104.35, showing growth from the present price of $84.66, which can serve as yet another indication of whether OKTA is worth investing in or should be passed over.
How Do You Analyze Okta Inc Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 5.79%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 80.91% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
OKTA shares are owned by institutional investors to the tune of 80.91% at present.
