KeyBanc analyst Rob Owens maintained a Buy rating on Okta Inc (NASDAQ: OKTA) today and set a price target of $74. The company’s shares closed yesterday at $60.20, close to its 52-week high of $63.71.
According to TipRanks.com, Owens is a top 100 analyst with an average return of 29.4% and a 76.5% success rate. Owens covers the Technology sector, focusing on stocks such as ServiceNow, Apptio Inc, and Imperva.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Okta Inc with a $63 average price target.
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Based on Okta Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $39.21 million. In comparison, last year the company had a GAAP net loss of $27 million.
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Okta, Inc. provides an enterprise-grade identity management services. Its products include single sign-on, multi factor authentication, API access management, API products and integration network services. Okta was founded by Todd McKinnon and J. Frederic Kerrest in 2009 and is headquartered in San Francisco, CA.