Okta Inc. (NASDAQ:OKTA) shares fell to a low of $216.73 before closing at $218.64. Intraday shares traded counted 2.56 million, which was -16.38% lower than its 30-day average trading volume of 2.20M. OKTA’s previous close was $222.44 while the outstanding shares total 131.78M. The firm has a beta of 0.97. The stock’s Relative Strength Index (RSI) is 37.12, with weekly volatility at 3.52% and ATR at 10.60. The OKTA stock’s 52-week price range has touched low of $173.06 and a $294.00 high. The stock traded lower over the last trading session, losing -1.71% on 06/01/21.
Investors have identified the Software – Infrastructure company Okta Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $27.34 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Okta Inc. (OKTA) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For OKTA, the company has in raw cash 659.89 million on their books with 20.78 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on a decline. In terms of their assets, the company currently has 3.01 billion total, with 800.46 million as their total liabilities.
OKTA were able to record 52.81 million as free cash flow during the 08/27/2021 quarter of the year, this saw their quarterly net cash flow reduce by 224.81 million. In cash movements, the company had a total of 56.08 million as operating cash flow.
Potential earnings growth for Okta Inc. (OKTA)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/27/2021 quarter of the year, Okta Inc. recorded a total of 251.01 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 27.15% coming in sequential stages and their sales for the 08/27/2021 quarter increasing by 6.48%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 66.12 million trying to sell their products during the last quarter, with the result yielding a gross income of 184.88 million. This allows shareholders to hold on to 131.78M with the recently reported earning now reading -0.83 cents per share. This is a figure that compared to analyst’s prediction for their 08/27/2021 (-0.59 cents a share).
Having a look at the company’s valuation, the company is expected to record -1.89 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on OKTA sounds very interesting.
Is the stock of OKTA attractive?
In related news, Chief Executive Officer, McKinnon Todd sold 13,817 shares of the company’s stock in a transaction that recorded on May 20. The sale was performed at an average price of 232.65, for a total value of 3,214,513. As the sale deal closes, the Chief Accounting Officer, KRAMER CHRISTOPHER K now sold 3,333 shares of the company’s stock, valued at 886,954. Also, Chief Financial Officer, KOUREY MICHAEL R sold 20,000 shares of the company’s stock in a deal that was recorded on Mar 22. The shares were price at an average price of 221.86 per share, with a total market value of 4,437,203. Following this completion of acquisition, the Chief Accounting Officer, KRAMER CHRISTOPHER K now holds 1,541 shares of the company’s stock, valued at 352,596. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.10%.
14 out of 25 analysts covering the stock have rated it a Buy, while 10 have maintained a Hold recommendation on Okta Inc.. 0 analysts has assigned a Sell rating on the OKTA stock. The 12-month mean consensus price target for the company’s shares has been set at $278.89.