Just the Facts on Okta, Inc. (OKTA)

Okta, Inc. (OKTA) is an interesting player in the Technology space, with a focus on Technical & System Software. The stock has been active on the tape, currently trading at $25.61, down from yesterday’s close by -0.58%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Okta, Inc. (OKTA) currently trades with a market capitalization of $2.63 Billion. That value represents a market adjusting for revenues that have been growing by 61.38 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of -$30.97 Million over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of -$0.17 on a per share basis this quarter. Perhaps, that suggests something about why 0.20% of the outstanding share supply is held by institutional investors.

Technical Analysis

It’s important to check the technicals to get a sense of how OKTA has been acting. Looking at the stock’s movement on the chart, Okta, Inc. recorded a 52-week high of $33.64. It is now trading 8.03% off that level. The stock is trading $28.02 its 50-day moving average by 2.41%. The stock carved out a 52-week low down at $21.52.

In recent action, Okta, Inc. (OKTA) has made a move of -12.32% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 19.03, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 6.33% with $40.22 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of OKTA.

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