Robert W. Baird analyst Jonathan Ruykhaver maintained a Hold rating on Okta Inc (OKTA) today. The company’s shares closed yesterday at $81.21, close to its 52-week high of $87.72.
Ruykhaver said:
“We point towards relatively small deals for a ~$500 million ARR company growing 50%+, which require greater S&M expense. But management foresees larger deals in the future, which would inflect margin performance. Overall, Okta remains the clear leader in cloud identity and is successfully executing to the large and growing opportunity.”
According to TipRanks.com, Ruykhaver is a top 100 analyst with an average return of 25.2% and a 77.6% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Varonis Systems, and Proofpoint Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Okta Inc with a $79.25 average price target, which is a -2.4% downside from current levels. In a report issued on March 4, SunTrust Robinson also downgraded the stock to Hold with a $90 price target.
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The company has a one-year high of $87.72 and a one-year low of $37.21. Currently, Okta Inc has an average volume of 1.96M.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock.
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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.
