In a report released today, Alex Henderson from Needham maintained a Buy rating on Okta Inc (OKTA), with a price target of $137. The company’s shares opened today at $113.22, close to its 52-week high of $119.96.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.3% and a 51.1% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, Lumentum Holdings, and Arista Networks.
Currently, the analyst consensus on Okta Inc is a Moderate Buy with an average price target of $103.55, which is a -8.5% downside from current levels. In a report issued on May 23, Deutsche Bank also maintained a Buy rating on the stock with a $124 price target.
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Based on Okta Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $30.81 million. In comparison, last year the company had a GAAP net loss of $25.96 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.
