Okta Inc. (NASDAQ:OKTA) has a beta value of 1.02 and has seen 0.81 million shares traded in the recent trading session. The company, currently valued at $10.84B, closed the recent trade at $64.75 per share which meant it lost -$3.95 on the day or -5.74% during that session. The OKTA stock price is -214.73% off its 52-week high price of $203.79 and 31.86% above the 52-week low of $44.12. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.91 million shares traded. The 3-month trading volume is 3.87 million shares.
The consensus among analysts is that Okta Inc. (OKTA) is an Overweight stock at the moment, with a recommendation rating of 2.20. 2 analysts rate the stock as a Sell, while 3 rate it as Overweight. 13 out of 38 have rated it as a Hold, with 20 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.24.
Okta Inc. (NASDAQ:OKTA) trade information
Sporting -5.74% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the OKTA stock price touched $64.75 or saw a rise of 10.12%. Year-to-date, Okta Inc. shares have moved 0.54%, while the 5-day performance has seen it change -3.40%. Over the past 30 days, the shares of Okta Inc. (NASDAQ:OKTA) have changed 1.12%. Short interest in the company has seen 7.24 million shares shorted with days to cover at 1.73.
Wall Street analysts have a consensus price target for the stock at $78.63, which means that the shares’ value could jump 17.65% from the levels at last check today. The projected low price target is $45.00 while the price target rests at a high of $110.00. In that case, then, we find that the latest price level in today’s session is -69.88% off the targeted high while a plunge would see the stock lose 30.5% from the levels at last check today.
Okta Inc. (OKTA) estimates and forecasts
Figures show that Okta Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -30.70% over the past 6 months, with this year growth rate of 41.30%, compared to 3.60% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -242.90% and 33.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be 40.00%.
27 analysts offering their estimates for the company have set an average revenue estimate of $465.42 million for the current quarter. 27 have an estimated revenue figure of $488.02 million for the next quarter concluding in Jan 2023.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -7.80% over the past 5 years. Earnings growth for 2023 is a modest -173.70% while over the next 5 years, the company’s earnings are expected to increase by 25.00%.
Okta Inc. is expected to release its next earnings report between February 28 and March 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Okta Inc. (NASDAQ:OKTA)’s Major holders
Insiders own 0.66% of the company shares, while shares held by institutions stand at 81.53% with a share float percentage of 82.08%. Investors are also buoyed by the number of investors in a company, with Okta Inc. having a total of 886 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 13.84 million shares worth more than $1.25 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 9.11% of shares outstanding.
The other major institutional holder is Price (T.Rowe) Associates Inc, with the holding of over 12.83 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.16 billion and represent 8.45% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Price (T.Rowe) New Horizons Fund and Vanguard Total Stock Market Index Fund. As of Jun 29, 2022, the former fund manager holds about 5.68% shares in the company for having 8.63 million shares of worth $780.07 million while later fund manager owns 4.44 million shares of worth $401.74 million as of Jun 29, 2022, which makes it owner of about 2.93% of company’s outstanding stock.