Okta Inc (NASDAQ:OKTA) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 5,234,874 shares, a growth of 34.7% from the February 15th total of 3,887,251 shares. Based on an average daily trading volume, of 1,612,369 shares, the short-interest ratio is currently 3.2 days.
A number of brokerages have recently commented on OKTA. JPMorgan Chase & Co. lifted their price target on shares of Okta to $50.00 and gave the stock an “overweight” rating in a report on Thursday, March 8th. Canaccord Genuity lifted their price target on shares of Okta from $28.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, March 8th. SunTrust Banks lifted their price target on shares of Okta to $45.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Deutsche Bank lifted their price target on shares of Okta from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Finally, Needham & Company LLC lifted their price target on shares of Okta from $38.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $41.45.
In other Okta news, General Counsel Jonathan T. Runyan sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $25.99, for a total value of $81,218.75. Following the sale, the general counsel now owns 3,125 shares in the company, valued at $81,218.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jonathan T. Runyan sold 9,375 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $25.22, for a total transaction of $236,437.50. The disclosure for this sale can be found here. Insiders sold 303,375 shares of company stock worth $9,225,047 in the last 90 days.
Okta (NASDAQ:OKTA) opened at $39.69 on Tuesday. Okta has a fifty-two week low of $21.52 and a fifty-two week high of $42.88. The company has a market cap of $4,047.36 and a price-to-earnings ratio of -24.65.
Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, March 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. Okta had a negative net margin of 43.99% and a negative return on equity of 66.09%. The business had revenue of $77.80 million during the quarter, compared to the consensus estimate of $76.77 million. The company’s quarterly revenue was up 59.4% compared to the same quarter last year. equities research analysts expect that Okta will post -1.42 earnings per share for the current fiscal year.
WARNING: “Okta Inc (OKTA) Sees Large Growth in Short Interest” was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://sportsperspectives.com/2018/03/13/okta-inc-okta-sees-large-growth-in-short-interest.html.
Okta Company Profile
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.
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.