During the recent session, Okta, Inc. (NASDAQ:OKTA)’s traded shares were 2,205,737, with the beta value of the company hitting 0.9. At the last check, the stock’s price was $241.85, reflecting an intraday gain of 8.67% or $19.29. The 52-week high for the OKTA share is $294, that puts it down -21.56% from that peak though still a striking +48.94% gain since the share price plummeted to a 52-week low of $123.5. The company’s market capitalization is $31.59 Billion, and the average intraday trading volume over the past 10 days was 1.67 Million shares, and the average trade volume was 1.64 Million shares over the past three months.
Okta, Inc. (OKTA) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 2.3. OKTA has a Sell rating from none of the analyst(s) out of 22 analysts who have looked at this stock. 10 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 12 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.2.
Okta, Inc. (NASDAQ:OKTA): Trading Information
Okta, Inc. (OKTA) registered a 8.67% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.21% in intraday trading to $242.4 this Thursday, Apr 08, hitting a weekly high. The stock’s 5-day price performance is 9.74%, and it has moved by 16.02% in 30 days. Based on these gigs, the overall price performance for the year is -4.86%. The short interest in Okta, Inc. (NASDAQ:OKTA) is 5.64 Million shares and it means that shorts have 3.44 day(s) to cover.
The consensus price target of analysts on Wall Street is $270.94, which implies an increase of 12.03% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $235 and $300 respectively. As a result, OKTA is trading at a discount of 24.04% off the target high and -2.83% off the low.
Okta, Inc. (OKTA) projections and forecasts
Statistics show that Okta, Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Okta, Inc. (OKTA) shares have jump down -2.07% during the last six months, with a year-to-date growth rate less than the industry average at -509.09% against 7.6%. Yet analysts are winding down their growth forecast for the fiscal year 2021. Revenue is predicted to decline -185.7% this quarter and then fall -257.1% in the quarter after that. In the rating firms’ projections, revenue will increase 30.3% compared to the previous financial year.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -20%. While earnings are projected to return -17.5% in 2021, the next five years will return 25% per annum.
Okta, Inc. (NASDAQ:OKTA)’s Biggest Investors
Okta, Inc. insiders own 1.17% of total outstanding shares while institutional holders control 82.39%, with the float percentage being 83.37%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 989 institutions own stock in it. As of Dec 30, 2020, the company held over 11.04 Million shares (or 8.97% of all shares), a total value of $2.81 Billion in shares.
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The next largest institutional holding, with 9.51 Million shares, is of Blackrock Inc.’s that is approximately 7.73% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $2.42 Billion.
Also, the Mutual Funds coming in first place with the largest holdings of Okta, Inc. (OKTA) shares are Vanguard Total Stock Market Index Fund and Fidelity Contrafund Inc. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 3,377,306 shares. This amounts to just over 2.74 percent of the company’s overall shares, with a $858.71 Million market value. The same data shows that the other fund manager holds slightly less at 3.28 Million, or about 2.66% of the stock, which is worth about $856.57 Million.