Needham Maintains Their Buy Rating on Okta (OKTA)

By Ryan Adsit

Needham analyst Alex Henderson maintained a Buy rating on Okta (OKTAResearch Report) on December 6 and set a price target of $154.00. The company’s shares closed last Monday at $118.31.

According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.5% and a 54.3% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and Ceragon Networks.

Currently, the analyst consensus on Okta is a Moderate Buy with an average price target of $136.08, representing a 14.0% upside. In a report issued on December 6, Cowen & Co. also reiterated a Buy rating on the stock with a $150.00 price target.

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The company has a one-year high of $141.85 and a one-year low of $52.05. Currently, Okta has an average volume of 2.58M.

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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.