This firm's average rating is Buy from 13 analysts. Do analysts base this consensus on technical analyses? We know that typical technical analysis utilizes price momentum, patterns, and trends looking at historical prices. It aims to identify signals based on Okta market sentiment investors' perception of the future value of Okta. Let us look at a few aspects of Okta technical analysis.
Using predictive
technical analysis, we can analyze different prices and returns patterns and
diagnose historical swings to determine the real value of Okta Inc. In general, sophisticated investors focus on analyzing Okta stock price patterns and their correlations with different microeconomic environment and drivers. They apply predictive analytics to build Okta's daily price indicators and compare them against related drivers such as
momentum indicators and various other types of predictive indicators. Using this methodology combined with a more conventional
technical analysis and
fundamental analysis, we attempt to find the most accurate representation of
Okta's intrinsic value. In addition to deriving basic predictive indicators for Okta, many experienced traders also check how macroeconomic factors affect Okta price patterns. Please read more on our
technical analysis page or use our predictive modules below to complement your research.
Sophisticated investors, who have witnessed
many market ups and downs, anticipate that the market will even out over time. This tendency of Okta's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Okta. Your research has to be compared to or analyzed against Okta's peers to derive any actionable benefits. When done correctly, Okta's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Okta Inc.
How does Okta Stands against Peers?
Analyzing Okta competition or peers my help you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Try to analyze the advantages of investing in traded instruments related to Okta across multiple sectors and
thematic ideas. A good competitive analysis can cover a lot of different areas. But what areas to choose depends on who you are. The more exhaustive you are in your analysis, the more effective your competitive analysis will be. Check out
Okta Competition DetailsOkta Gross Profit
Okta Gross Profit growth is one of the most critical measures in evaluating the company. The Gross Profit growth rate is calculated simply by comparing Okta previous period's values with its current period's values. Each time period you're measuring should be of equal lengths the increase or decrease, in a company's Gross Profit between two periods. Here we show Okta Gross Profit growth over the last 10 years. Please check Okta's
gross profit and other
fundamental indicators for more details.
Closer look at Okta Semi Deviation
Okta Inc has current Semi Deviation of 2.73. Semi-deviation provides a good measure of downside risk for a equity or a portfolio. It is similar to standard deviation, but it only looks at periods where the returns are less than the target or average level.
Semi-deviation is the square root of semi-variance. Semi-variance is calculated by averaging the deviations of returns that have a result that is less than the mean.
Semi Deviation | = | SQRT(SV) |
| = | 2.73 |
Let's now compare Okta Semi Deviation to its closest peers:
| OKTA | 2.732430078518388 |
| BB | 2.26 |
| BL | 2.73 |
| EEFT | 1.75 |
| EVTC | 1.38 |
Analysis of Okta Inc
Downside deviation is down to 3.06. It may suggest a possible volatility slip. As of the 2nd of December, Okta holds the Risk Adjusted Performance of 0.109,
coefficient of variation of 1228.82, and Semi Deviation of 2.73. Compared to
fundamental indicators, the
technical analysis model allows you to check existing technical drivers of Okta, as well as the relationship between them. Put it differently, you can use this information to find out if the company will indeed mirror its model of past market data, or the prices will eventually revert. We were able to analyze nineteen
technical drivers for Okta Inc, which can be compared to its competitors. Please check
Okta Inc information ratio,
value at risk, as well as the
relationship between the Value At Risk and
expected short fall to decide if Okta Inc is priced some-what accurately, providing market reflects its current price of 230.21 per share. Given that Okta has
jensen alpha of 0.2177, we recommend you to check out Okta Inc's recent market performance to make sure the company can sustain itself at a future point.
The Bottom Line
Whereas some firms in the software—infrastructure industry are either recovering or due for a correction, Okta may not be as strong as the others in terms of longer-term growth potentials. Taking everything into account, as of the 2nd of December 2020, our primary 30 days buy-sell recommendation on the company is
Strong Hold. We believe Okta is currently
fairly valued with
very low chance of financial distress for the next two years.
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Rifka Kats is a Member of Macroaxis Editorial Board. Rifka writes about retail product and service companies from the perspective of a regular consumer and sophisticated investor at the same time. She is passionate about corporate ethics and equality in the workforce.
View Profile This story should be regarded as informational only and should not be considered a solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Rifka Kats do not own shares of Okta Inc. Please refer to our
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