Okta (OKTA) Receives a Hold from Needham

Needham analyst Alex Henderson assigned a Hold rating to Okta (OKTAResearch Report) today. The company’s shares closed last Thursday at $218.69, close to its 52-week high of $226.89.

According to TipRanks.com, Henderson is a 5-star analyst with an average return of 20.3% and a 59.3% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Okta with a $209.25 average price target, representing a -6.3% downside. In a report issued on August 19, Mizuho Securities also maintained a Hold rating on the stock with a $200.00 price target.

See today’s analyst top recommended stocks >>

Based on Okta’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $183 million and GAAP net loss of $57.66 million. In comparison, last year the company earned revenue of $125 million and had a GAAP net loss of $51.97 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.