In today’s recent session, 0.53 million shares of the Okta Inc. (NASDAQ:OKTA) have been traded, and its beta is 1.11. Most recently the company’s share price was $86.98, and it changed around $2.86 or 3.40% from the last close, which brings the market valuation of the company to $12.69B. OKTA at last check was trading at a discount to its 52-week high of $276.30, offering almost -217.66% off that amount. The share price’s 52-week low was $77.01, which indicates that the recent value has risen by an impressive 11.46% since then. We note from Okta Inc.’s average daily trading volume that its 3-month average coming to 3.43 million.
Okta Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.90. If we narrow it down even further, the data shows that 0 out of 29 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended OKTA as a Hold, whereas 23 deemed it a Buy, and 0 rated it as Underweight. Okta Inc. is expected to report earnings per share of -$0.34 for the current quarter.
Okta Inc. (NASDAQ:OKTA) trade information
Instantly OKTA has been showing a green trend so far today with a performance of 3.40% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 87.61 on Tuesday, 06/21/22 increased the stock’s daily price by 0.72%. The company’s shares are currently down -62.47% year-to-date, but still up 3.01% over the last five days. On the other hand, Okta Inc. (NASDAQ:OKTA) is 1.31% up in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $148.96, which translates to bulls needing to increase their stock price by 41.61% from its current value. Analyst projections state that OKTA is forecast to be at a low of $115.00 and a high of $195.00. In order for the stock price to hit the forecast high, the stock would need to plunge -124.19% from its current level, while the stock would need to crash -32.21% from its current level to reach the projected low.
Okta Inc. (OKTA) estimates and forecasts
Okta Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -61.40 percent over the past six months and at a -141.30% annual growth rate that is well below the industry average of 3.80%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -240.00% in revenue this quarter, and will report a decrease of -200.00% in the next quarter. The year-over-year growth rate is expected to be 37.40%, up from the previous year.
Consensus estimates provided by 22 financial analysts predict the company will bring in an average of $389.05 million in revenue for the current quarter. 22 analysts expect Okta Inc. to make $423.92 million in revenue for the quarter ending Jul 2022.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -7.80%. Okta Inc. earnings are expected to increase by -173.70% in 2022, but the outlook is positive 25.00% per year for the next five years.
Okta Inc.’s next quarterly earnings report is expected to be released around March 01 and March 07.
Okta Inc. (NASDAQ:OKTA)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.61% of Okta Inc. shares, and 81.34% of them are in the hands of institutional investors. The stock currently has a share float of 81.85%. Okta Inc. stock is held by 984 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2021, it held 8.78% of the shares, which is about 13.24 million shares worth $2.97 billion.
Blackrock Inc., with 8.11% or 12.23 million shares worth $1.85 billion as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
Price (T.Rowe) New Horizons Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2021. The former held 4.97 million shares worth $1.11 billion, making up 3.30% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 4.2 million shares worth around $940.42 million, which represents about 2.78% of the total shares outstanding.