FBN Securities Initiates Coverage on Okta (OKTA). What May be Next?

January 23, 2018 - By Adrian Mccoy

 FBN Securities Initiates Coverage on Okta (OKTA). What May be Next?

Why Has FBN Securities Given Okta (OKTA) a $35 Price Target

In a note issued to clients and investors on Monday, 22 January, stock research analysts at FBN Securities began coverage for Okta (OKTA) shares. The firm has decided to set a “Outperform” rating along with a $35, adding 17.45 % to the target.

Okta, Inc. (NASDAQ:OKTA) Ratings Coverage

Among 10 analysts covering Okta (OKTA), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Okta has $37.0 highest and $22 lowest target. $31.75’s average target is 6.54% above currents $29.8 stock price. Okta had 15 analyst reports since May 2, 2017 according to SRatingsIntel. On Thursday, November 9 the stock rating was maintained by KeyBanc Capital Markets with “Buy”. The firm has “Buy” rating given on Wednesday, December 6 by SunTrust. Oppenheimer initiated it with “Buy” rating and $32.0 target in Monday, October 9 report. Canaccord Genuity maintained Okta, Inc. (NASDAQ:OKTA) on Wednesday, June 7 with “Hold” rating. Canaccord Genuity maintained the stock with “Hold” rating in Friday, September 8 report. KeyBanc Capital Markets maintained the stock with “Buy” rating in Thursday, September 7 report. On Wednesday, August 30 the stock rating was maintained by Canaccord Genuity with “Hold”.

The stock increased 2.12% or $0.62 during the last trading session, reaching $29.8. About 4.04 million shares traded or 256.18% up from the average. Okta, Inc. (OKTA) has 0.00% since January 23, 2017 and is . It has underperformed by 16.70% the S&P500.

Analysts await Okta, Inc. (NASDAQ:OKTA) to report earnings on March, 7. After $-0.34 actual earnings per share reported by Okta, Inc. for the previous quarter, Wall Street now forecasts -50.00 % EPS growth.

Okta, Inc. operates an integrated system that connects persons via devices. The company has market cap of $3.48 billion. The company's identity cloud connects various companies to pre-integrated apps and devices every day. It currently has negative earnings. It offers single sign-on, mobility management, adaptive multi-factor authentication, lifecycle management, and universal directory products for IT customers; and complete authentication, user management, flexible administration, API access management, and developer tools for developers.

More important recent Okta, Inc. (NASDAQ:OKTA) news were published by: Seekingalpha.com which released: “Billion-Dollar Unicorns: Can Okta Sustain Its Valuation?” on January 18, 2018, also Usmarketsdaily.com published article titled: “How is Okta Inc. Cl A (NASDAQ: OKTA) Executing its Strategy?”, Gurufocus.com published: “Glynn Capital Management Llc Buys Okta Inc, Cloudera Inc, ServiceNow Inc …” on January 16, 2018. More interesting news about Okta, Inc. (NASDAQ:OKTA) was released by: Streetinsider.com and their article: “FBN Securities Starts Okta, Inc (OKTA) at Outperform” with publication date: January 22, 2018.

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