Okta (OKTA) Gets a Hold Rating from Robert W. Baird

Robert W. Baird analyst Jonathan Ruykhaver maintained a Hold rating on Okta (OKTAResearch Report) today. The company’s shares closed last Thursday at $263.88, close to its 52-week high of $294.00.

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 32.0% and a 69.6% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Ping Identity Holding, CrowdStrike Holdings, and Palo Alto Networks.

Currently, the analyst consensus on Okta is a Moderate Buy with an average price target of $282.67, which is a 5.6% upside from current levels. In a report issued on February 16, Canaccord Genuity also maintained a Hold rating on the stock with a $300.00 price target.

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Based on Okta’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $217 million and GAAP net loss of $72.76 million. In comparison, last year the company earned revenue of $153 million and had a GAAP net loss of $63.5 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.