KeyBanc analyst Eric Heath maintained a Buy rating on Okta on July 10 and set a price target of $175.00. The company’s shares closed last Friday at $138.63.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
Heath covers the Technology sector, focusing on stocks such as Okta, Snowflake, and Zscaler. According to TipRanks, Heath has an average return of 20.9% and a 70.21% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Okta with a $125.18 average price target, implying a -9.70% downside from current levels. In a report released on July 6, Scotiabank also upgraded the stock to a Buy with a $165.00 price target.
Based on Okta’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $765 million and a net profit of $74 million. In comparison, last year the company earned a revenue of $688 million and had a net profit of $62 million
