Unveiling 16 Analyst Insights on Okta – Okta (NASDAQ:OKTA)

Okta OKTA was analyzed by 16 analysts in the last quarter, yielding a range of views from bullish to bearish.

The table below summarizes their most recent ratings and provides insight into sentiment trends over the last 30 days as well as a comparison to previous months.

Analysts recently rated Okta and provided 12-month price targets. The average target is $87.38, accompanied by a high estimate of $101.00 and a low estimate of $75.00. Down 16.25%, the current average is below the previous average price target of $104.33.

Understanding Analyst Ratings: A Comprehensive Breakdown

A clear picture of Okta’s perception among financial professionals comes from a thorough analysis of recent analyst actions. The summary below lists the key analysts, their current assessments as well as rating adjustments and price targets.

Key Takeaways:

• Measures taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they “maintain,” “raise,” or “decrease” their stance, it reflects their response to recent Okta-related developments. This information provides a snapshot of how analysts perceive the company’s current state.
• Evaluation: As part of a comprehensive analysis, analysts offer qualitative ratings ranging from Outperform to Underperform. These ratings reflect expectations for Okta’s relative performance compared to the broader market.
• Price targets: Analysts set price targets as an estimate of a stock’s future value. Comparing current and previous price targets provides insight into how analyst expectations have changed over time. This information can be valuable to investors who want to understand consensus opinions about the stock’s potential future performance.

To gain valuable insight into Okta’s market performance, consider these analyst ratings along with key financial indicators. Stay well-informed and make prudent decisions using our rating table.

Stay up to date with Okta analyst ratings.

Discovering Okta: A Closer Look

Okta is a cloud-native security company focused on identity and access management. The San Francisco-based company went public in 2017 and focuses on two key customer stakeholders: workforce and customers. Okta’s Workforce offerings enable a company’s employees to securely access its cloud and on-premises resources. The Company’s customer offerings enable its customers’ customers to securely access the customer’s applications.

Okta: Diving into financial data

Market capitalization analysis: The company’s market capitalization is above the industry average, indicating that it is relatively larger compared to its peers. This potentially indicates higher levels of investor confidence and market recognition.

Sales growth: Okta’s three-month revenue growth was remarkable. As of July 31, 2024, the company achieved a sales growth rate of approx 16.19%. This indicates a significant increase in the company’s revenue. Compared to its competitors, the company faced difficulties as its growth rate was below the average of its competitors in the information technology sector.

Net margin: Okta’s net margin exceeds industry standards and underscores the company’s exceptional financial performance. With an impressive 4.49% Thanks to the net margin, the company manages costs effectively and achieves high profitability.

Return on equity (ROE): Okta’s financial strength is reflected in its exceptional ROE, which is above the industry average. With a remarkable ROE of 0.48%, The company is characterized by efficient use of equity capital and strong financial health.

Return on Assets (ROA): Okta’s ROA exceeds industry benchmarks and achieves 0.32%. This means efficient asset management and strong financial health.

Debt management: Okta’s debt-to-equity ratio is below the industry average 0.2This reflects a reduced reliance on debt financing and a more conservative financial approach.

The basics of analyst ratings

In the area of ​​banking and financial systems, analysts specialize in reporting on specific stocks or defined sectors. Their duties include attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish “analyst ratings” for stocks. Typically, analysts rate and evaluate each stock once a quarter.

Analysts can improve their ratings by including forecasts for metrics such as growth estimates, earnings and revenue, providing additional guidance to investors. It’s important to recognize that while analysts are experts on stocks and sectors, they are also people and express their opinions when providing insights.

Which stocks are analysts recommending now?

Benzinga Edge gives you instant access to all the key analyst upgrades, downgrades and price targets. Sort by accuracy, improvement potential and more. Click here to stay ahead of the market.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.