Analysts rate Okta Inc. (OKTA:NSD) with an Buy rating and a $129 target

Jefferies Financial LLC initiated the buy rating with a $90 Okta stock price target.

Based on the Okta Inc. stock forecast from 25 analysts, the average analyst Okta stock price target is USD 129.52 over the next 12 months. Okta Inc’s average analyst rating is Buy. Stock Target Advisor’s own stock analysis of Okta Inc. stock forecast is Neutral, which is based on 4 positive signals and 4 negative signals. At the last closing, Okta stock price was USD 59.01Okta stock price has changed by -5.69% over the past week, -42.76% over the past month and -77.14% over the last year.

 

About Okta Inc. (OKTA:NSD):

Okta, Inc. provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a cloud-based system of record to store and secure user, application, and device profiles for an organization, Single Sign-On that enables users to access applications in the cloud or on-premise from various devices.  It offers customer support, training, and professional services. It sells its products directly to customers through sales force and channel partners. The company was formerly known as Saasure, Inc. Okta, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.

 

 

Most Recent Analyst Ratings for OKTA’s Stock:

Initiated by Jefferies Financial LLC Buy USD 90 2022-09-15
Maintains Deutsche Bank Capital Buy USD 130 » USD 90 2022-09-06
Target Down BTIG Research USD 117 2022-09-06
Target Down RBC Royalbank USD 110 2022-09-06
Target Down Wells Fargo USD 100 2022-09-06
Target Down Oppenheimer Holdings USD 115 2022-09-06
Upgraded by Guggenheim Sell » Neutral USD 89 » USD 65 2022-09-02
Maintains Wolfe Research Outperform USD 108 » USD 100 2022-09-01
Maintains Truist Securities Hold USD 140 » USD 100 2022-09-01
Target Down Stifel Nicolaus Research  Hold USD 115 » USD 85 2022-09-01
Downgraded by Morgan Stanley Overweight » Equal
Weight USD 150 » USD 93 2022-09-01
Initiated by BMO Financial Buy USD 94 2022-09-01
Downgraded by Stephens & Co. Overweight » Equal
Weight USD 145 » USD 80 2022-09-01
Maintains Piper Sandler Overweight USD 130 » USD 125 2022-09-01
Maintains Mizuho Securities Buy USD 150 » USD 110 2022-09-01
Maintains D.A. Davidson Neutral USD 105 » USD 80 2022-09-01
Target Lowered by JMP Securities USD 165 » USD 145 2022-09-01
Downgraded Canaccord Capital Buy » Hold USD 155 » USD 85 2022-09-01
Downgrade Needham & Company LLC Buy » Hold 2022-09-01
Maintains STA Research Buy USD 120 2022-08-29
Target Lowered by Mizuho Securities Buy USD 165 » USD 150 2022-08-17
Downgrades D.A. Davidson Neutral 2022-08-15
Target Down D.A. Davidson cuts to neutral
from buy; USD 105 2022-08-15
Initiated by Guggenheim Securities Sell USD 89 2022-08-12
Maintains Truist Securities Hold USD 170 » USD 140 2022-07-26

 

What we like:

High market capitalization:

This is one of the largest entities in its sector and is among the top quartile. Such companies tend to be more stable.

Superior risk adjusted returns:

Okta stock has performed well, on a risk adjusted basis, compared to its sector peers (for a hold period of at least 12 months) and is in the top quartile.

Positive cash flow:

The company had positive total cash flow in the most recent four quarters.

Superior Revenue Growth:

This stock has shown top quartile revenue growth in the previous 5 years compared to its sector.

 

What we don’t like:

High volatility:

The total returns for Okta stock are volatile and above median for its sector over the past 5 years. Make sure you have the risk tolerance for investing in such stock.

Overpriced on cashflow basis:

Okta stock is trading high compared to its peers on a price to cash flow basis. It is priced above the median for its sectors. Proceed with caution if you are considering to buy.

Negative free cash flow:

The company had negative total free cash flow in the most recent four quarters.

Low Earnings Growth:

Okta stock has shown below median earnings growth in the previous 5 years compared to its sector.

Analysts rate Okta Inc. (OKTA:NSD) with a Strong Buy rating and a $163 target

STA research maintains the $120 Okta stock price target and rates as Buy.

Based on the Okta stock forecast from 26 analysts, the average analyst Okta stock price target is USD 163.79 over the next 12 months. Okta Inc’s average analyst rating is Strong Buy. Stock Target Advisor’s own stock analysis of Okta stock forecast is Neutral, which is based on 4 positive signals and 4 negative signals.

At the last closing, Okta stock price was USD 91.40Okta stock price has changed by -5.23% over the past week, -7.05% over the past month and -65.48% over the last year.

 

About Okta Inc. (OKTA:NSD):

Okta, Inc. provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally.

The company offers Okta Identity Cloud, Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data.

It offers customer support, training, and professional services. It sells its products directly to customers through sales force and channel partners. The company was formerly known as Saasure, Inc. Okta, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.

 

What we like:

High market capitalization:

This is one of the largest entities in its sector and is among the top quartile. Such companies tend to be more stable.

Superior risk adjusted returns:

Okta stock price has performed well, on a risk adjusted basis, compared to its sector peers (for a hold period of at least 12 months) and is in the top quartile.

Positive cash flow:

The company had positive total cash flow in the most recent four quarters.

Superior Revenue Growth:

Okta stock forecast shows that the stock has shown top quartile revenue growth in the previous 5 years compared to its sector.

 

What we don’t like:

High volatility:

The total returns for this company are volatile and above median for its sector over the past 5 years. Make sure you have the risk tolerance for investing in such stock.

Overpriced on cashflow basis:

Okta stock price is trading high compared to its peers on a price to cash flow basis. It is priced above the median for its sectors. Proceed with caution if you are considering to buy.

Negative free cash flow:

The company had negative total free cash flow in the most recent four quarters.

Low Earnings Growth:

Okta stock forecast shows that the stock has shown below median earnings growth in the previous 5 years compared to its sector