Okta (OKTA) Price Target Increased to $50.00 by Analysts at JPMorgan Chase & Co.
Okta (NASDAQ:OKTA) had its price objective hoisted by JPMorgan Chase & Co. to $50.00 in a research note issued to investors on Thursday morning. JPMorgan Chase & Co. currently has an overweight rating on the stock.
OKTA has been the subject of a number of other research reports. BidaskClub raised Okta from a sell rating to a hold rating in a report on Saturday, January 20th. Needham & Company LLC lifted their target price on Okta from $38.00 to $50.00 and gave the stock a buy rating in a report on Thursday. KeyCorp reissued a positive rating and issued a $43.00 target price (up previously from $35.00) on shares of Okta in a report on Thursday, February 22nd. Oppenheimer lifted their target price on Okta from $34.00 to $40.00 and gave the stock an outperform rating in a report on Wednesday, February 21st. Finally, SunTrust Banks lifted their target price on Okta to $45.00 and gave the stock a buy rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Okta currently has an average rating of Buy and a consensus target price of $41.45.
Shares of Okta (NASDAQ OKTA) opened at $39.71 on Thursday. The company has a market capitalization of $4,047.36 and a price-to-earnings ratio of -24.66. Okta has a fifty-two week low of $21.52 and a fifty-two week high of $42.88.
In related news, General Counsel Jonathan T. Runyan sold 2,500 shares of Okta stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $38.93, for a total value of $97,325.00. Following the completion of the sale, the general counsel now owns 2,500 shares of the company’s stock, valued at $97,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William E. Losch sold 12,200 shares of Okta stock in a transaction on Monday, December 11th. The stock was sold at an average price of $26.13, for a total value of $318,786.00. Following the completion of the sale, the chief financial officer now directly owns 12,200 shares of the company’s stock, valued at approximately $318,786. The disclosure for this sale can be found here. Insiders sold 615,575 shares of company stock valued at $17,190,833 in the last ninety days.
A number of large investors have recently added to or reduced their stakes in OKTA. Wells Fargo & Company MN bought a new stake in Okta during the second quarter valued at about $242,000. Teachers Advisors LLC bought a new stake in Okta during the second quarter valued at about $457,000. Nationwide Fund Advisors bought a new stake in Okta during the second quarter valued at about $320,000. New York State Common Retirement Fund bought a new stake in Okta during the second quarter valued at about $271,000. Finally, Northern Trust Corp bought a new stake in Okta during the second quarter valued at about $2,865,000. 39.10% of the stock is owned by institutional investors and hedge funds.
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Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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