In a report released today, Alex Henderson from Needham downgraded Okta Inc (NASDAQ: OKTA) to Hold. The company’s shares closed yesterday at $57.36, close to its 52-week high of $58.56.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 13.5% and a 53.3% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, Ceragon Networks, and Arista Networks.
Okta Inc has an analyst consensus of Strong Buy, with a price target consensus of $51.60.
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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 $24.68 million. In comparison, last year the company had a GAAP net loss of $28.9 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.
